Monday, March 4

Freedom Finance acquires US broker Prime Executions

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What opportunities the acquisition of Prime Executions opened up

The Russian company Freedom Finance announced the acquisition of Prime Executions broker. Thanks to this purchase it will get direct access to the US trading floors, which opens wide opportunities for the development of the investment firm.

Freedom Finance is a subsidiary of Freedom Holding Corporation. In order to carry out the deal, the latter received permission from the agency, which is engaged in the regulation of financial institutions in the United States. Freedom Holding has now become a permanent member of the organization, which, together with the acquisition of the American brokerage company is an opportunity to expand the activities of the corporation and its subsidiary division Freedom Finance. The latter can now provide services to investors from the United States. 

Freedom Holding Corporation

The brokerage company was founded by entrepreneur Andrew Silverman and has been working in the U.S. market since 1986. It operates on major stock exchanges with a turnover of 630 million shares a month.

Freedom Holding Corporation was incorporated in the U.S. state of Nevada in 1981. In 2019 it held a public offering on the Nasdaq exchange, in addition to this platform, its securities are traded in St. Petersburg. Since last year Freedom Holding has been included in small-cap stock indices.

The holding conducts its activities on the territory of Russia, Ukraine, Kazakhstan, Cyprus, Germany and others. In the first quarter of this year, the capitalization of the corporation amounted to 164 million dollars with assets amounting to 1169 million dollars. The value of the company is estimated at 1.4 billion dollars. A total of 12,000 new accounts were opened during the quarter, reaching 152,000.

A subsidiary of Freedom Finance is registered in Russia and includes an online store and a bank. Last year several large deals were made to buy one of the oldest Russian brokers and the bank, which is part of the Kazakh financial corporation. 

Freedom Finance provides securities support services and conducts brokerage and custody operations. It was founded in 2008, and 5 years later it opened an online store where retail investors can purchase shares of various companies. One of the objectives of Freedom Finance is the popularization of investment activities and the stock market. Due to the company’s initiative, securities of well-known corporations, including Levi’s, Zoom, have appeared on the St. Petersburg Stock Exchange, on the Kazakhstani ground securities of Microsoft, Tesla, Apple and others are traded.

Freedom Finance appeared on the Ukrainian market in 2017, when it acquired the local broker Ukranet. Two years later, the company placed its shares on the Moscow Stock Exchange.

Freedom Finance owns shares of the platform in St. Petersburg in the amount of 13%, as well as 20% of the Ukrainian Stock Exchange.

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