NewsPress ReleaseOrtoli Rosenstadt LLP Represents Flextrade Systems In $125+ Million Deal With The Singapore Exchange For Maxxtrader

July 29, 2021

Ortoli Rosenstadt LLP Represents Flextrade Systems In $125+ Million Deal With The Singapore Exchange For Maxxtrader

New York, NY – July 26, 2021 – Ortoli Rosenstadt LLP, a New York full-service international law firm, today announced that it represented FlexTrade Systems Inc., a global leader in multi-asset execution and order management systems, in the approximately $125 million[1] cash sale of its FX trading platform MaxxTrader to the Singapore Exchange (SGX). The acquisition is expected to close by December 2021.

The Ortoli Rosenstadt LLP team was led by Partner Paul Pincus, with assistance from Partners Richard Ortoli and Aldo Panunzio.

MaxxTrader is a leading provider of FX pricing and risk solutions for sell-side institutions, including banks and broker-dealers, as well as a multi-dealer platform for hedge funds. MaxxTrader has built a strong, global client and dealer franchise with over 100 global banks, regional banks, broker-dealers and hedge funds currently connected to its platform. Its average daily volume has grown to over $17 billion as of June 2021. SGX’s acquisition of MaxxTrader will accelerate its plans to build an integrated FX marketplace that facilitates access to OTC and on-exchange currency derivatives for international investors.

“We are thrilled to represent our long-standing client FlexTrade Systems in the SGX deal for MaxxTrader,” remarked Partner Paul Pincus, head of the firm’s international M&A practice. “SGX and MaxxTrader share a vision, and this transaction not only allows MaxxTrader to continue its growth and success as an FX trading platform, but means that FlexTrade can now focus on its core business moving forward.”

[1] FlexTrade will also receive an earnout payment of up to $35 million if certain revenue targets are met by MaxxTrader.

About Ortoli Rosenstadt LLP

Founded in 2006, Ortoli Rosenstadt LLP is a New York based law firm representing global clients. With its attorneys' abilities to speak nine different languages, the firm is able to provide cutting-edge, solution-oriented legal advice to its clients in a wide variety of practice areas including corporate & securities, mergers and acquisitions, real estate, global mobility and employment, intellectual property, and litigation.

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New York

Ortoli | Rosenstadt
LLP

366 Madison Ave, 3rd Flr,
New York, NY 10017

+1 212 588-0022

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Miami

Ortoli | Rosenstadt
LLP

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Miami, FL 33131

+1 786 289-0022

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Singapore

Ortoli | Rosenstadt
LLP

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Singapore 049319

+65 8444 7243

About Ortoli Rosenstadt LLP

Founded in 2006, Ortoli Rosenstadt LLP is a New York based law firm representing global clients. With its attorneys' abilities to speak nine different languages, the firm is able to provide cutting-edge, solution-oriented legal advice to its clients in a wide variety of practice areas including corporate & securities, mergers and acquisitions, real estate, global mobility and employment, intellectual property, and litigation.