In addition, the LOI provides that Lanatech, an unrelated third party, may acquire up to 9.9% equity interest in Nexus.
The letter of intent for the most part is non-binding on the parties.
The acquisition is subject to certain requirements including due diligence, approval from the FSA, execution of a mutually-acceptable definitive purchase agreement and various other customary conditions.
Forex International Trading CEO Darren Dunckel said they believe this acquisition could generate a great deal of interest in their state-of-the-art retail trading platform as they give their international clients the ability to trade forex and contracts for difference.
"We anticipate the due diligence process and review process by the Financial Services Authority to take approximately 45 to 60 days," Dunckel said.
Nexus Capital specializes in contracts for difference (CFD), foreign exchange, spread trading and share dealing.
