MF Global Ltd. (NYSE: MF), the world's leading futures and options
broker, today announced the acquisition of 100 percent of the share
capital of BrokerOne Pty Ltd. The Sydney-based BrokerOne, which
commenced business in 1995 through its predecessors, has successfully
captured the leading market share of futures contracts traded on the
Sydney Futures Exchange (SFE). MF Global believes the transaction will
be accretive over the next 12 months.
"Our purchase of BrokerOne further advances our Asia Pacific
growth strategy," said Kevin Davis, chief executive officer of MF
Global. "The acquisition establishes MF Global as the #1 broker in
Australian futures and options market whilst simultaneously
strengthening our balance of customers in that financial center
between institutional, retail and professional trader segments."
BrokerOne is the largest online broker for retail clients and
professional traders in Australia, with its 4,500 customers
collectively representing the biggest single pool of liquidity on the
SFE. The complementary nature of the two customer bases will help
facilitate synergies from the transaction while strengthening MF
Global's overall position in the region.
Mr. Davis added, "We continue to view all of Asia Pacific as a
tremendous opportunity as regional growth in futures and options
volumes and contracts has increased at a 25 percent compounded annual
growth rate over the last five years. MF Global plans to continue to
make opportunistic acquisitions in the region that enable us to expand
our customer base, liquidity and the products we provide."
The combination of BrokerOne with MF Global's existing Australian
business establishes the combined entity's leading positions in both
listed and unlisted derivatives including retail products such as the
high growth market for over-the-counter equity derivatives known as
Contracts for Differences (CFDs).
MF Global is leading the consolidation of the futures industry,
executing 18 acquisitions over the last 18 years. In addition to
BrokerOne, in June 2007, MF Global acquired FXA Securities Ltd., a
leading provider of online foreign exchange products in Japan. The
company is in the process of rolling out FXA's technology outside of
Japan, to provide a retail OTC foreign exchange platform to all of
Asia Pacific and Europe.
Approximately 10 percent of MF Global's net revenues in fiscal
2007 came from Asia Pacific as the company has strong and growing
positions throughout the region with offices in Tokyo, Hong Kong,
Singapore, Taipei, Mumbai and Sydney.
Prior to MF Global's acquisition, the controlling shareholder of
BrokerOne was TransMarket Group Pty Ltd., part of a global trading
group with operations in the U.S., U.K., Spain, India, Singapore and
Australia. TransMarket intends to focus its entire effort on its
proprietary trading business and will remain a customer of BrokerOne
following the change of ownership.
ABOUT MF GLOBAL
MF Global Ltd. (NYSE: MF), formerly Man Financial, is the leading
broker of exchange-listed futures and options in the world. It
provides execution and clearing services for exchange- traded and
over-the counter derivative products as well as for non-derivative
foreign exchange products and securities in the cash market. MF Global
is uniquely diversified across products, trading markets, customers
and regions. Its worldwide client base of more than 130,000 active
accounts ranges from financial institutions, industrial groups, hedge
funds and other asset managers to professional traders and
private/retail clients. MF Global operates in 12 countries on more
than 70 exchanges, providing access to the largest and fastest growing
financial markets in the world. It is the leader by volume on many of
these markets and on a single day averages six million lots, more than
most of the world's largest derivatives exchanges. For more
information, please visit mfglobal.com.
FORWARD-LOOKING STATEMENT
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Forward-looking statements in this press release,
including statements relating to the Company's future revenues and
earnings, plans, strategies, objectives, expectations and intentions,
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that
such forward-looking statements are inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy, and
some of which might not be anticipated. We caution you not to place
undue reliance on these forward-looking statements. We refer you to
the Company's filings with the Securities and Exchange Commission
(SEC) for a description of the risks and uncertainties the Company
faces.