Deutsche Börse Announces Conclusion of 360T Acquisition
- The company is looking to broaden its asset class reach amid increasing market interconnectedness and business synergies
Deutsche Börse has concluded the acquisition of over-the-counter (OTC) instruments trading venue 360T. The company’s CEO highlighted in an announcement the importance of the deal by saying: “This acquisition is a strategic fit as it broadens Deutsche Börse’s asset class spectrum.”
German financial regulatory bodies and the antitrust watchdog have issued their approval to Deutsche Börse for the acquisition. The platform will remain regulated by BaFin and its existing management team will continue managing the subsidiary. In addition, the CEO of 360T, Carlo Kölzer, will join Deutsche Börse’s Group Management Committee.
Back in July, Deutsche Börse announced that it is buying the Frankfurt-based foreign exchange and OTC instruments Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term for 725 million euros ($796 million).
Deutsche Börse has decided to build its FX business around its new acquisition, and the management of the subsidiary has been mandated to continue the development of the platform and to lead an expansive effort into this new area for Deutsche Börse.
The management of Deutsche Börse has pointed out that the new ECN-type trading venue for FX spot which can also be used for derivatives instruments is one of the key synergies of the deal.
Deutsche Börse's CEO, Carsten Kengeter, elaborated: "360T’s impressive growth trajectory since its inception and its dynamically evolving position in the FX market makes it a substantial addition to broaden our asset class spectrum. It is a great strategic fit. The deal underpins part of our ambition to become the global market infrastructure provider of choice.”
Commenting on the announcement, the CEO of 360T, Carlo Kölzer, stated: “In a market where participants increasingly look for transparency, reduced capital costs, cutting edge trading and clearing solutions, our offering will be the most trustworthy and holistic one. The acquisition follows the trending FX industry logic towards global integrated infrastructure providers, adhering to the highest regulatory standards.”
The existing legal agreements with and Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term of 360T will remain intact by its integration into Deutsche Börse.
Deutsche Börse has concluded the acquisition of over-the-counter (OTC) instruments trading venue 360T. The company’s CEO highlighted in an announcement the importance of the deal by saying: “This acquisition is a strategic fit as it broadens Deutsche Börse’s asset class spectrum.”
German financial regulatory bodies and the antitrust watchdog have issued their approval to Deutsche Börse for the acquisition. The platform will remain regulated by BaFin and its existing management team will continue managing the subsidiary. In addition, the CEO of 360T, Carlo Kölzer, will join Deutsche Börse’s Group Management Committee.
Back in July, Deutsche Börse announced that it is buying the Frankfurt-based foreign exchange and OTC instruments Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term for 725 million euros ($796 million).
Deutsche Börse has decided to build its FX business around its new acquisition, and the management of the subsidiary has been mandated to continue the development of the platform and to lead an expansive effort into this new area for Deutsche Börse.
The management of Deutsche Börse has pointed out that the new ECN-type trading venue for FX spot which can also be used for derivatives instruments is one of the key synergies of the deal.
Deutsche Börse's CEO, Carsten Kengeter, elaborated: "360T’s impressive growth trajectory since its inception and its dynamically evolving position in the FX market makes it a substantial addition to broaden our asset class spectrum. It is a great strategic fit. The deal underpins part of our ambition to become the global market infrastructure provider of choice.”
Commenting on the announcement, the CEO of 360T, Carlo Kölzer, stated: “In a market where participants increasingly look for transparency, reduced capital costs, cutting edge trading and clearing solutions, our offering will be the most trustworthy and holistic one. The acquisition follows the trending FX industry logic towards global integrated infrastructure providers, adhering to the highest regulatory standards.”
The existing legal agreements with and Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term of 360T will remain intact by its integration into Deutsche Börse.