Monex : TradeStation Group, Inc. Terminated its Business Combination Agreement with Quantum FinTech Acquisition Corporation

TradeStation Group, Inc. Terminated its Business Combination Agreement with Quantum FinTech Acquisition Corporation

TOKYO, August 3, 2022 - In relation to our announcement made on November 4, 2021 titled "TradeStation Group to become public on the NYSE through a De-SPAC with Quantum FinTech Acquisition Corporation," Monex Group, Inc. (the "Company") hereby announces that TradeStation Group, Inc. ("TradeStation Group"), a subsidiary of the Company, terminated on August 2, 2022 (ET) its business combination agreement with Quantum FinTech Acquisition Corporation (the "Agreement").

1. Background of Terminating the Agreement

The Agreement allowed a party to terminate if the transaction was not completed by August 1, 2022. TradeStation Group notified Quantum Fintech Acquisition Corporation on August 2, 2022 that it was terminating the Agreement effective immediately.

TradeStation Group's decision not to continue to pursue the merger to become a public company was based on several factors, including current conditions in the economy and markets that are not anticipated to improve in the near future.

Quantum FinTech has claimed that TradeStation Group did not have the right to terminate the Agreement, but we believe this claim has no basis or merit.

2. Outlook

We believe that the impact of the termination of the Agreement by TradeStation Group on the consolidated financial results of the Company for the fiscal year ending March 31, 2023 is immaterial.

Contact: Akiko Kato	Yuki Nakano, Minaka Aihara
Corporate Communications Office	Investor Relations, Financial Control Department
Monex Group, Inc.	Monex Group, Inc.
[phone]	[phone]

This material is an English translation of a Japanese announcement made on the date above. Although the Company intended to faithfully translate the Japanese document into English, the accuracy and correctness of this English translation is not guaranteed and thus you are encouraged to refer to the original Japanese document. This translation was made as a matter of record only and does not constitute an offer to sell or to solicit an offer to buy securities in the U.S.