INX Limited Announces Acquisition of ILS Brokers Ltd

Fazzaco learned that INX Limited, the owner of blockchain-based platforms for trading digital securities and cryptocurrencies, announced it has acquired ILS Brokers Ltd (ILSB).

The acquisition will allow INX to expand its global institutional reach while focusing on lead generation and OTC trading.

Recently, INX Limited also announced the closing of its acquisition of a clearing and settlement platform, Openfinance Securities, LLC (Openfinance), following the approval from the Financial Industry Regulatory Authority (FINRA) for change of ownership.

Commenting on the news, Shy Datika, President of INX, said: “I believe that through these recent events, INX is systematically cementing its position as the bridge between traditional finance and the world of cryptocurrencies and digital securities. The purchase of this interdealer-broker offers another building block and touch-point linking traditional finance with the cryptocurrency and digital security space, offering a full range of traditional and digital brokerage services.

We believe that cryptocurrency non-deliverable-forward (NDF) trading by global institutions will take the spotlight, especially given most institutions are looking for a way to trade cryptocurrency price volatility without the responsibility of actually holding the underlying assets. This acquisition puts us squarely in a position to provide markets in deliverable and non-deliverable currencies and cryptocurrencies to institutions in parallel with our digital securities and cryptocurrency trading platforms.”

ILS Brokers Ltd., established in 2001, is an Israel-based interdealer-broker with over 50 tier-1 and tier-2 global bank relationships focusing on OTC trading of FX, interest rate and other derivative products. ILSB is an NFA member, registered as an introducing broker and swap firm and holds other licenses in Israel.