However, since there is still ongoing negotiation between the two firms, Schott OFT keeps the identity of the brokerage firm undisclosed until the final acquisition is completed.
Initially, according to unconfirmed reports, the acquisition will include nearly 50,000 trading accounts including dormant accounts with estimated assets in custody of $0.7 billion. The negotiation between the two parties is expected to be closed soon as there are pending regulatory approvals. All details regarding the acquisition plan will be divulged to public, particularly to investors and shareholders through press release once the transaction is made final.
Since the brokerage firm focuses on online commodities trading service, the acquisition is also expected to harmonize with Schott OFT’s current assets and based-customers. The acquisition plan is also projected to enhance Schott OFT’s existing online commodities brokerage trading systems and facilities.
While the transaction between the two is still pending, Schott OFT is making its best to come up with smooth transition in order to provide seamless transfer of accounts of traders from their previous brokerage firm. Schott OFT vows to provide new clients with excellent trading services and low-cost trading commissions.
Mr. Peter Sullivan, President of Schott OFT said that the anticipated acquisition will self-enhance the firm’s market share in the entire brokerage operation and in general in the marketplace.
“As far as our mission is concerned, we pledge to provide the most excellent trading services to clients that will soon to be transfer to us. Such service is coupled with confidence, impartiality and integrity as we hope that both of us will prosper in this industry,” said Peter.
“When the management finally agreed to sell the firm’s current assets which include the entire accounts, we considered Schott OFT before other brokerage firms to get the acquisition because we believe that it can provide the trading services that our account holders need. We acknowledge its current standing in this business industry, being one of the key players in brokerage services worldwide,” said the Officer-in-Charge of the soon to be acquired online brokerage firm.
Schott OFT is a commodity broker for futures and commodity trading, which specialize in Broker Assisted trading at discounted commission rates. Schott OFT offers Discount Online futures trading account plans and Broker Assisted commodity account plans to meet the needs of serious commodity futures traders and commodity option traders. Our mission is to provide state of the art order entry capabilities; extremely competitive commission rates and the professional service that today’s futures trader’s demand. We strive to maintain our solid reputation by providing our clients with competitive rates and quality service second to none.
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