Independent corporate finance and investment advisory firm, specialising in smaller quoted and larger unquoted companies
22 March 2011
Merchant House Group Plc, the AIM-listed financial services group, announces that it has entered into a Europe-wide agreement (beginning with the UK) to distribute and promote the binary options trading platform Optionfire.com (“Optionfire”).
To effect this agreement, Purple Zone Operations Limited (“Purple Zone”), a newly incorporated UK company, has been established by Mark Sear, a business partner of Optionfire, to introduce investors to the Optionfire platform and MHG has agreed that Purple Zone will become an Appointed Representative of Merchant Capital Limited (“MCL”), its FSA authorised subsidiary, to distribute and promote the platform. Richard Barham, presently an authorised person with MCL, will become Head of Binary Operations at Purple Zone.
Merchant House Group has also agreed with Optionfire that, subject to the number of clients using Optionfire, it may take an economic interest in Purple Zone.
Optionfire is a regulated platform in Australia for binary option market users designed to protect their capital and ensure responsible operations of the binary options trading platform.
Through MCL, Merchant House Group will provide the regulatory framework to bring Optionfire into the UK and Europe with a view to developing Optionfire into a multinational industry leader in the digital options trading environment. Merchant House Group has been working to establish the relationship and work in partnership with Purple Zone to raise awareness of Optionfire throughout Europe of a new wave of digital trading for investors and to establish alternatives to spread betting and contracts for difference trading services.
Optionfire is intended to bring a new degree of simplicity to an often complicated trading environment with a platform that offers risk determined solely by investors. Stocks, indices, forex and commodity options can all be traded on Optionfire with the safety of defined risk/return highlighted from the outset. Traders simply have to choose the asset, select Click “Call” if they believe the asset price will rise by the expiry time, or “Put” if they believe that the price will fall, wait for the outcome and collect their profit if they have taken the correct directional decision.
Merchant House Group’s asset management division within Merchant Capital Limited has established a solid reputation as an independent provider of operating platforms including a UCITS platform for absolute return managers from around the world. Merchant House Group will look to grow further with strategic acquisition, joint ventures and partnerships..
Chris Day (CEO, Merchant House Group): “Merchant House Group continues to grow through strategic joint ventures. We are pleased to be working with Purple Zone to develop and promote Optionfire.com - binary options which are a relatively new type of investment, accessible to all types of investor. The product works well for investors seeking a defined return with downside risk limited to the amount committed per transaction.”
Richard Barham (Head of Binary Options, Purple Zone): “I am delighted to be taking on this exciting and challenging role at Purple Zone. We are committed to provide a service to investors who are looking for an alternative to spread betting and CFD dealing whilst still having access to the global market place and high return transactions. I am pleased to be increasing awareness in the binary options market and promoting this platform to the UK and Europe together with the team I will be building, whilst developing a long lasting relationship with Optionfire.com for the future.”
Ben Cusack (Chief Marketing Officer, Purple Zone): “This is an exciting development because we are bringing the world of binary options trading to the EU following great success in Australia and the Far East. The framework we are providing means the platform will be properly regulated unlike much of the spread betting world.”
Enquiries:
Merchant House Group
Christopher Day, CEO
James Holmes, Chairman
+44 20 7332 2200
Hume Brophy (Media)
Jamie Wynn-Williams / Kevin Sammon / Evan DeBarra
+44 20 3440 5656
About Merchant House Group Plc
Merchant House Group plc is a London Stock Exchange AIM-listed holding company whose main subsidiary Merchant Capital is a corporate finance, investment advisory and stockbroking firm concentrating on small to medium sized companies. It also offers a wealth management service. Merchant Capital Limited is authorised and regulated by the Financial Services Authority.
Other companies in the Group include Merchant Funds, an UCITS Umbrella and Merchant House Finance which offers leasing. Merchant House Group is also in the process of building a presence in the Independent Financial Adviser market.
Please visit our website at http://www.merchanthousegroup.com
About Purple Zone Operation
Purple Zone Operation is responsible for developing and marketing binary option trading platforms with a successful and rapid growth phase since launch in Australia and Asia in October 2010, having amassed a significant number of active trading clients. Since achieving this period of growth overseas Purple Zone Operations has been actively seeking a UK joint venture to bring the exciting new World of binary options trading in to Europe with FSA regulation in place. Purple Zone Operations Ltd is an Appointed Representative of Merchant Capital Limited.
Merchant Capital Limited
Aldermary House
10-15 Queen Street
London EC4N 1TX
United Kingdom
Tel: +44 (0)20 7332 2200