ALPARI COASTING PTY LTD is set to launch trading in the UK after it secured a takeover offer from Barclays.
Alpari has been running a stock trading operation in the country since 2012 and has over 500,000 traders.
It is the first UK company to join the London Stock Exchange (LSE) after it announced the deal.
The London Stock exchange is expected to begin trading in early 2018.
The LSE’s exchange was set up in 2014 to facilitate the trading of UK shares by financial institutions and financial technology firms.
It also operates an investment banking arm and a commodity exchange.
The LSE is expected as early as 2018 to have its own trading platform.
Alpari, which has about 100 staff in the United Kingdom, has over 1,300 traders who trade in over 120 currencies and more than 200 asset classes.
“Alparis aim to serve as an efficient and efficient trading platform for UK-based traders and provide the financial services needed to grow Alparis business,” the company said in a statement.
“The new trading platform will enable trading in a wide range of asset classes in the future.”
Alasdair McBride, chief executive of Barclays, said the deal was the result of a “long-standing and deep partnership”.
“We believe that the LSE has the capability to develop and deliver a highly competitive and secure trading platform, one which will enable Alpars customers to continue to benefit from the growth of their trading operations in the market, without the need for significant capital investment,” Mr McBride said.
“We look forward to working with Alparius new trading team to enable the company to continue its global expansion.”
The bank is set a target of £1.2bn in turnover by 2020, which would make it the third-biggest financial services firm in the world after JP Morgan Chase and Goldman Sachs.
Its turnover of £7.6bn in the third quarter of 2017 was the highest since the third year of the financial crisis.
Alpacas market share was up to 10 per cent in the three months to December.
Barclays is set for a £4bn cash dividend in 2021 and is also set to receive a £2bn capital injection in 2019.
Banks are likely to be among the first financial firms to join LSE as it looks to diversify and expand its markets.
The move follows the introduction of new rules for banks, which are expected to see them offer lower fees and make more trades.
Barclays has said that the new rules would also see it offer “more effective” access to more clients, with the number of customers eligible to buy and sell shares increasing from 200,000 in 2020 to 400,000.
Bank of England Governor Mark Carney said in June that the introduction a new financial regulation could mean more money in the bank’s pockets and could see it attract more customers.