Stonex Group the owner of Gain Capital and City Index has made another acquisition in the retail trading space, however, this time it hasn’t bought a brokerage.
Why has City Index owner Stonex Group bought Chasing returns?
Nasdaq listed Stonex Group has splashed the cash to acquire a Dublin based fintech business, Chasing Returns, that was founded and headed up by former JP Morgan Risk Manager, Ann Hunt.
Formed in 2014 Chasing Returns uses statistical and psychological techniques to encourage better trader behaviour, through the analysis of a traders performance and by showing them how they can improve their outcomes.
The Chasing Returns technology works in conjunction with popular trading platforms such as MT4 and MT5 and can extract data directly from a clients trading history to form a complete picture of their trading style what they do well and what they don’t.
Chasing Returns then encourages the trader to do more of the good things and far less of the bad.
Chasing Returns had previously struck deals with a number of FX and margin trading businesses including OANDA and Gain Capital.
Speaking about the acquisition by Stonex Ann Hunt, CEO of Chasing Returns said:
“We are delighted to be joining StoneX as we believe that working more closely together, we can deliver more powerful tools for our traders, in a more integrated way. StoneX shares our vision of putting traders first, empowering them with the tools to learn from every trade and investing to help them achieve long-term success.”
Financial details of the deal were not released by Stonex however Glenn Stevens Head of Retail and FX at Stonex said of the deal:
“This acquisition further cements our dedication to providing our customers with the best-in-class risk management tools to increase their confidence and help protect their trading capital. We have a well-established partnership with Chasing Returns and since launch, have seen greatly improved customer engagement and received overwhelmingly positive feedback from our client base”
Ann Hunt will become Head of Client performance at Stonex following the acquisition.