NT Progress LLC, a subsidiary of Moscow Exchange, has reached agreements in principle to attract another round of funding from an external investor to accelerate the development of NTPro OTC trading platform's services.
The investor was a private equity fund managed by TRINFICO Investment Group, that will own a 56% share of NT Progress LLC post-transaction.
The parameters of the deal are not disclosed. The deal is in its final phase and is expected to be closed very soon.
Raising new investments will drive further growth of NTPro platform and lead to improved services for clients when offering them the most flexible and advanced trading solutions for currency exchange operations. Moscow Exchange expects to further participate in the development of NTPro platform in close cooperation with the current team.
Vyacheslav Kashigin, CEO of NTProgress, said:
"Moscow Exchange's participation in NTPro helped us solidify our presence in the OTC market and introduce exchange expertise to the platform's offerings. We are delighted to raise a new funding round from an external investor. This will allow us to expand the service offering available on our platform and significantly grow our presence in our target market."
NTPro platform offers solutions for liquidity aggregation, matching and algo execution across a wide range of instruments, as well as services to connect to more than 60 OTC market participants.
Read more on the Moscow Exchange: https://www.moex.com/n70162
