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TechFinancials (AIM: TECH), a software developer that supplies simplified trading solutions to online brokers, is pleased to announce that it has opened a new sales office in Hong Kong to promote the Company’s B2B services and provide client support services for the Asia Pacific region.
This follows TechFinancials’ announcement on 5 January 2016, regarding the completion of a Joint Venture (“JV”) with the owners of Optionfortune Trade Limited, a Company registered in Hong Kong, to run a B2C binary options trading platform focused on the Asia Pacific region.
The Hong Kong office will allow the Company to execute new business partnerships and joint ventures with local specialists, to increase market penetration, and to support TechFinancials brokers in the region. It will also act as a hub and a focal point for the wider binary options community in the Asia Pacific market.
The office will be headed by Mr. Calvin Hau, Asia Pacific Sales Manager, who recently joined the TechFinancials team. Mr. Hau has strong experience in capital markets and was most recently appointed as Institutional Prime Sales for a China-focused FX Prime service provider, where he was overseeing liquidity, white label and business development.
Commenting on the opening of the Hong Kong office, Asaf Lahav, Group CEO of TechFinancials, said:
“Opening an office in Hong Kong is a core part of our strategy to expand into Asia and penetrate markets with high growth potential. With the establishment of the JV to run a B2C binary options trading platform in the Asia Pacific region, our Hong Kong base will strengthen our B2B foothold and overall presence in the region. Under Mr. Hau’s guidance, we are well placed for further growth in China and to develop new customers in the wider Asia Pacific region.”
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For further information:
|TechFinancials, Inc.||Tel: +972 54 5233 943|
|Asaf Lahav, Group Chief Executive Officer|
|Yuval Tovias, Chief Financial Officer|
|Grant Thornton UK LLP (Nominated Adviser)||Tel: +44 (0) 20 7383 5100|
|Colin Aaronson / Samantha Harrison / Seamus Fricker|
|Northland Capital Partners Limited (Broker)||Tel: +44 (0) 20 3861 6625|
|David Hignell / Rob Rees|
|NEX Corporate Adviser and Joint Broker Peterhouse Corporate Finance||Tel: +44 (0) 20 7469 0930|
|Fungai Ndoro / Eran Zucker|
|Yellow Jersey PR Limited (Media Relations)||Tel: +44 (0) 7748 843 871|
|Charles Goodwin / Felicity Winkles|
Notes to editors:
TechFinancials was formed in 2009 to create a simplified trading solution for online brokers wanting to provide a platform for retail customers to trade in Binary Options. TechFinancials’ platform is based on a proprietary pricing engine, which enables online brokers to price and market short-term Binary Options and Exotic Options. In 2014, around 18% of all deposits which are made to trade Binary Options globally were processed using TechFinancials’ software.
In early 2014, TechFinancials began to focus on the Asian market, securing distribution in Japan and China. The Joint Venture with the owners of Optionfortune marks the first significant development for the Company in its expansion into the Asia Pacific region since its admission to AIM, and is a major part of the Company’s strategy to penetrate markets with significant high growth potential.