New York, NY – July 26, 2021 – Ortoli Rosenstadt LLP, a New York full-service international law firm, today announced that it represented FlexTrade Systems Inc., a global leader in multi-asset execution and order management systems, in the approximately $125 million[1] cash sale of its FX trading platform MaxxTrader to the Singapore Exchange (SGX). The acquisition is expected to close by December 2021.

The Ortoli Rosenstadt LLP team was led by Partner Paul Pincus, with assistance from Partners Richard Ortoli and Aldo Panunzio.

MaxxTrader is a leading provider of FX pricing and risk solutions for sell-side institutions, including banks and broker-dealers, as well as a multi-dealer platform for hedge funds. MaxxTrader has built a strong, global client and dealer franchise with over 100 global banks, regional banks, broker-dealers and hedge funds currently connected to its platform. Its average daily volume has grown to over $17 billion as of June 2021. SGX’s acquisition of MaxxTrader will accelerate its plans to build an integrated FX marketplace that facilitates access to OTC and on-exchange currency derivatives for international investors.

“We are thrilled to represent our long-standing client FlexTrade Systems in the SGX deal for MaxxTrader,” remarked Partner Paul Pincus, head of the firm’s international M&A practice. “SGX and MaxxTrader share a vision, and this transaction not only allows MaxxTrader to continue its growth and success as an FX trading platform, but means that FlexTrade can now focus on its core business moving forward.”

[1] FlexTrade will also receive an earnout payment of up to $35 million if certain revenue targets are met by MaxxTrader.