iS Prime and ThinkMarkets settle long-standing dispute
iS Prime and ThinkMarkets settle long-standing dispute
Brokerages iS Prime and ThinkMarkets were able to settle a long-standing dispute just one day before it was set to go to court.
The disagreement between the companies stemmed from the sale of ThinkLiquidity, ThinkMarkets' B2B unit, to parent company iS Prime ISAM in 2017, which became the basis for ISAM iS Risk.
According to the FNG website, iS Prime sued ThinkMarkets in a U.K. court, seeking $15 million in damages for ThinkMarkets' failure to send trades to the ISAM group unit for execution as part of the sale agreement.
All previous attempts by the U.K. court to resolve the dispute, which has evolved over time with new claims and counterclaims from both sides, have been unsuccessful.
iS Prime and ThinkMarkets have not disclosed the terms of the settlement.
We previously reported that ThinkMarkets had opened a branch in New Zealand.
The ThinkTrader broker launched in 2010 and offers accounts for beginners and professional traders with narrow market spreads. Support is available in English, Spanish, Italian, Arabic and Portuguese.
