MAS Markets Solid stake marks the first step in a planned full takeover of Solid over the next several years, the London-based firm said on July 29. However, neither company disclosed the size of the holding or the financial terms. They also did not give a timetable for the final acquisition.
The deal flips a link that started in 2022. At that time, Solid bought a 9.9 per cent stake in MAS, which then operated as BidX Markets. Simon Blackledge has continued to own more than 75 per cent of the company, and BidX changed its name to MAS Markets in early 2024.
MAS Markets Solid Stake Reverses 2022 Deal
Blackledge, CEO of MAS Group, said the move broadens the firm’s reach beyond its core margin business. He added that it gives MAS exposure to the global spot FX market through a partner with an established institutional client base. Meanwhile, Solid works only in spot foreign exchange and serves institutional clients in several markets.
MAS has built its business mainly around margin trading and holds an FCA licence. As a result, MAS gains direct access to Solid’s spot FX client base. Solid’s clients, in turn, will be able to use MAS’s regulatory framework and wider product range.
Client Service to Stay Unchanged
Both firms said client relationships, service levels and contact points will stay the same during the integration process. Diego Baptista, CEO of Solid, said the partnership builds on many years of trust. He said the deal brings together technology, market infrastructure and client ties that both firms had developed separately.
The companies had already worked together before this transaction. Previously, BidX Markets clients could use Solid’s institutional FX liquidity and technology, as well as liquidity management services and detailed trading activity and mark-out data. Therefore, that earlier partnership helped set up the current transaction.
The move comes during a period of growth at MAS. Net profit for fiscal year 2024 reached £174,512, up 508 per cent from £28,690 a year earlier, after turnover roughly tripled. Additionally, revenue rose another 92 per cent in 2025 to £6.1 million.
In UK Companies House filings, MAS said it was exploring organic and inorganic growth in the UK and overseas.
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Source: Finance Magnates
