GMO-Z.com Trade UK Limited, a subsidiary of GMO Financial Holdings that provides forex services to institutional clients, has released its financial report for the year ending December 31, 2022. The report arrived just as shareholders of GMO decided to withdraw the subsidiary.
GMO-Z.com reported a 36% increase in revenue to £569,448 from £416,024 reported in the corresponding period last year. Similarly, the company’s net revenue rose 39% to £216,637 from £155,200 in 2021.
In addition, GMO-Z.com reduced its expenses for the period by reducing costs related to its retail business. The company’s operating expenses decreased by 11% to £1,284,999 from £1,455,766 in the period ended 31 December 2021.
The spot forex services company reported a pre-tax loss of £809,532 in the period, compared to £1,143,234 in the corresponding period of 2021. Besides, the issued share capital of GMO-Z.com increased to £2,500,000 from £1,500,000 after shareholders’ resolution.
Finance Magnates reported in October last year that it was based in Sydney Multi-asset
Multi-asset
Multiple assets consist of different asset classes, which is an umbrella designation that combines different categories such as bonds, stocks, cash equivalents, fixed income, and alternative investments. When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes results such as return over inflation rather than measuring performance against benchmarks. Considering the composition of multiple asset classes, it must be dynamic
Multiple assets consist of different asset classes, which is an umbrella designation that combines different categories such as bonds, stocks, cash equivalents, fixed income, and alternative investments. When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes results such as return over inflation rather than measuring performance against benchmarks. Considering the composition of multiple asset classes, it must be dynamic
Read this term Brokerage firm 26 Degrees, formerly Invast Global, was planning to acquire GMO-Z.com. Per the press release shared with the media publication, GMO-Z.com was to become a subsidiary of 26 Degrees in the UK subject to approval by the Financial Conduct Authority (FCA).
business termination
However, according to the latest reports, FCA has rejected the acquisition application acquisition
acquisition
Acquisition means acquiring, possessing, or securing property, services, or capabilities. Simply put, it is the act or process of acquiring or gaining. You can get a job of art, you can acquire a skill like speaking another language, you can get a job or shares in a company and you can get the service of an accountant. For example, you can buy a new car. In a broad sense, acquisition can mean the act of acquiring ownership or possession of something. there
Acquisition means acquiring, possessing, or securing property, services, or capabilities. Simply put, it is the act or process of acquiring or gaining. You can get a job of art, you can acquire a skill like speaking another language, you can get a job or shares in a company and you can get the service of an accountant. For example, you can buy a new car. In a broad sense, acquisition can mean the act of acquiring ownership or possession of something. there
Read this termGMO-Z.com said in the reports, citing the circumstances and environment in which the deal would have taken place. As a result, 26 Degrees pulled out of the deal, and GMO-Z.com’s sole shareholder, GMO Financial Holdings, decided to close the company.
“The Company will immediately revoke the authorization from the FCA and process the Company’s dissolution,” GMO-Z.com added. “This will be done very carefully to ensure that there is no detrimental impact on the stakeholders of the company.”
GMO Financial Holdings is the parent company of Japan-based GMO CLICK Securities, a retail forex brokerage firm. Before agreeing to sell GMO-Z.com to 26 degrees, the former decided to terminate its spot forex liquidity services by February.
Finance Magnates has contacted 26 Degrees for comment and did not receive a response at the time of publication. GMO-Z.com, on the other hand, did not respond to a request for comment.
Binance and CS to cut staff; Major banks partner in forex trading; Read nuggets today.
GMO-Z.com Trade UK Limited, a subsidiary of GMO Financial Holdings that provides forex services to institutional clients, has released its financial report for the year ending December 31, 2022. The report arrived just as shareholders of GMO decided to withdraw the subsidiary.
GMO-Z.com reported a 36% increase in revenue to £569,448 from £416,024 reported in the corresponding period last year. Similarly, the company’s net revenue rose 39% to £216,637 from £155,200 in 2021.
In addition, GMO-Z.com reduced its expenses for the period by reducing costs related to its retail business. The company’s operating expenses decreased by 11% to £1,284,999 from £1,455,766 in the period ended 31 December 2021.
The spot forex services company reported a pre-tax loss of £809,532 in the period, compared to £1,143,234 in the corresponding period of 2021. Besides, the issued share capital of GMO-Z.com increased to £2,500,000 from £1,500,000 after shareholders’ resolution.
Finance Magnates reported in October last year that it was based in Sydney Multi-asset
Multi-asset
Multiple assets consist of different asset classes, which is an umbrella designation that combines different categories such as bonds, stocks, cash equivalents, fixed income, and alternative investments. When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes results such as return over inflation rather than measuring performance against benchmarks. Considering the composition of multiple asset classes, it must be dynamic
Multiple assets consist of different asset classes, which is an umbrella designation that combines different categories such as bonds, stocks, cash equivalents, fixed income, and alternative investments. When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes results such as return over inflation rather than measuring performance against benchmarks. Considering the composition of multiple asset classes, it must be dynamic
Read this term Brokerage firm 26 Degrees, formerly Invast Global, was planning to acquire GMO-Z.com. Per the press release shared with the media publication, GMO-Z.com was to become a subsidiary of 26 Degrees in the UK subject to approval by the Financial Conduct Authority (FCA).
business termination
However, according to the latest reports, FCA has rejected the acquisition application acquisition
acquisition
Acquisition means acquiring, possessing, or securing property, services, or capabilities. Simply put, it is the act or process of acquiring or gaining. You can get a job of art, you can acquire a skill like speaking another language, you can get a job or shares in a company and you can get the service of an accountant. For example, you can buy a new car. In a broad sense, acquisition can mean the act of acquiring ownership or possession of something. there
Acquisition means acquiring, possessing, or securing property, services, or capabilities. Simply put, it is the act or process of acquiring or gaining. You can get a job of art, you can acquire a skill like speaking another language, you can get a job or shares in a company and you can get the service of an accountant. For example, you can buy a new car. In a broad sense, acquisition can mean the act of acquiring ownership or possession of something. there
Read this termGMO-Z.com said in the reports, citing the circumstances and environment in which the deal would have taken place. As a result, 26 Degrees pulled out of the deal, and GMO-Z.com’s sole shareholder, GMO Financial Holdings, decided to close the company.
“The Company will immediately revoke the authorization from the FCA and process the Company’s dissolution,” GMO-Z.com added. “This will be done very carefully to ensure that there is no detrimental impact on the stakeholders of the company.”
GMO Financial Holdings is the parent company of Japan-based GMO CLICK Securities, a retail forex brokerage firm. Before agreeing to sell GMO-Z.com to 26 degrees, the former decided to terminate its spot forex liquidity services by February.
Finance Magnates has contacted 26 Degrees for comment and did not receive a response at the time of publication. GMO-Z.com, on the other hand, did not respond to a request for comment.
Binance and CS to cut staff; Major banks partner in forex trading; Read nuggets today.