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Kazakhstan-based Freedom Holding Corp. purchases US broker dealer, member of NYSE

Finance Materials 11 January 2021 13:54 (UTC +04:00)
Kazakhstan-based Freedom Holding Corp. purchases US broker dealer, member of NYSE

BAKU, Azerbaijan, Jan. 11

By Nargiz Sadikhova - Trend:

Kazakhstan-based Freedom Holding Corp. has completed its acquisition of Prime Executions, Inc., a broker-dealer registered with the US Securities and Exchange Commission and member of the New York Stock Exchange, where it acts as an agency-only broker-dealer operating from the floor of the NYSE, Trend reports citing the company.

The acquisition marks the company's initial entry into the US markets.

Timur Turlov, Freedom Holding Corp. Chief Executive Officer said that the acquisition results in a well-supported, highly experienced, and talented trade executions organization that will be well-positioned to meet the evolving needs of Prime's existing customers and of the Company.

“In December 2020, the combined trading volume of Prime and the Company exceeded 1.06 billion shares and we look forward to additional valuable synergies we expect to be created through this transaction," he said.

Poulton & Yordan acted as legal advisor to Freedom Holding Corp.

Prime Executions was founded in 1986 and is a qualified "Blue Line" NYSE brokerage firm able to access multiple marketplaces to trade on average more than 630,000,000 shares per month to meet client needs. Prime Executions combines an experienced sales team, brokers, and all the available technologies provided by the NYSE and several outside vendors to provide exceptional fill rates and less shortfall slippage to a wide variety of clients on both the buy-side and sell-side.

Freedom Holding Corp., a Nevada corporation, is a financial services holding company conducting retail financial brokerage, investment counseling, securities trading, investment banking, and underwriting services through its subsidiaries under the name of Freedom Finance in Eurasia where it employs more than 1,500 persons.

The Company is a professional participant in numerous securities exchanges including the Kazakhstan Stock Exchange, Astana International Exchange, Moscow Exchange, Saint-Petersburg Exchange, Republican Stock Exchange of Tashkent, and Ukrainian Exchange. The Company is headquartered in Almaty, Kazakhstan, with administrative office locations in Russia, Cyprus, and the United States.

The Company's common shares are registered with the United States Securities and Exchange Commission and are traded in the United States on the Nasdaq Capital Market, operated by Nasdaq, Inc.

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