e-financialdepot.com to acquire CFN Asia

US financial software company moves into Asian market with acquisition of Hong Kong-based trading technology vendor.
e-financialdepot.com, a US-based software and services provider, has signed a letter of intent to acquire, for an undisclosed sum,  the issued and outstanding shares of CFN Asia, an operator of integrated securities trading, distribution and brokerage systems to financial institutions throughout Asia.

e-financialdepot.com is listed on the over-the-counter bulletin board (OTCBB) in the US and on the Frankfurt bourse. The company’s product and service lines include both banking and trading technologies, online mortgages and insurance services that it offers to customers in both an ASP (Application Service Provider) and a “white label” model. White labelling means the customers put their own brand on the company’s products.

The company also offers professional trading services utilizing direct access communication to both the NASDAQ and NYSE stock exchanges through Tradefast, a wholly-owned subsidiary.  

“CFN Asia is the missing link in the network of companies that e-financialdepot.com has been acquiring and strategically partnering within it’s international approach to launching a worldwide network,” says Paul Lemmon, president and CEO of e-financialdepot.com.  

CFN Asia currently operates offices in Hong Kong and London. Through its trading and brokerage applications, CFN Asia provides enabling technology, integrated front-office systems and a smart routing system with access to 15 markets in Asia. Additionally, CFN Asia operates as a transaction service provider (TSP) and has filed to become a full service broker dealer in Hong Kong. The TSP acts as a hub within local markets to facilitate cross-border transactions.

“We have been working with the e-financialdepot.com team for over a year now and are very pleased with the possibility of uniting the two companies. The two business plans are almost identical and have been operating independently on each side of the world,” says Paul Heffner, CEO and founder of CFN Asia.

All of the current staff of CFN will continue in their present roles. Heffner will become executive vice president of the corporation and managing director for Asia.