Freedom Holding Corp. (parent company of the Russian broker Freedom Finance), after the approval of the application for the right of permanent membership by the Financial Institutions Regulatory Agency (FINRA), acquired the brokerage and dealer company Prime Executions Inc. (is a member of the NYSE and NASDAQ stock exchanges). The company said in a statement that its membership in FINRA and the purchase of a US broker gives Freedom Holding direct access to US exchanges and the ability to serve US investors.
Broker Prime Executions was founded in 1986. Freedom Holding is acquiring the company’s outstanding shares from Andrew Silverman and Daniel Tandy, who will continue to serve on the company’s board of directors. The trade is expected to close within 30 days.
IC “Freedom Finance” was founded in 2010. In 2018, it acquired the Nettrader brokerage company. In December 2019, as a result of an additional issue, she became the owner of 12.8% of the shares of the St. Petersburg Stock Exchange. In July 2020, it acquired the investment company Zerich Capital. As of December 1, it ranked eighth among banks and brokerage companies operating on the Moscow Exchange in terms of the number of registered clients (more than 83 thousand people). Freedom Holding shares are listed on NASDAQ, market capitalization exceeds $ 1.5 billion. The group does business in Russia, Kazakhstan, Uzbekistan, Kyrgyzstan, Germany, Cyprus and Ukraine.
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