Australia's largest futures broker, BrokerOne, has bought
out the futures broking business of its main competitor L-Quay
for an undisclosed sum. The deal was considered to be the most
significant development in the local futures industry since the
trading floor closed in 1999.
By adding L-Quay's 7% market share of Sydney Futures
Exchange's volumes, BrokerOne has consolidated its top ranking
with a combined 25% share and 19 brokers running a 24-hour
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