Germany-based exchange and clearing house operator, Deutsche Borse AG, today announced that it has completed the sale of International Securities Exchange Holdings Inc. (ISE) to Nasdaq today, as it finished its divestiture of ISE for $1.1 billion.
In a parallel announcement, Nasdaq also today announced that it completed its acquisition of International Securities Exchange, after the March 9th agreement with Deutsche Borse.
ISE operates three equity options exchanges in the United States, including ISE Gemini, ISE Mercury and International Securities Exchange, under its holding company U.S. Exchange Holdings Inc.
Nasdaq had moved to acquire ISE from Deutsche Borse earlier in March 2016 during a time when changes were underway at the German firm including at its Eurex division as noted by Finance Magnates in related coverage.
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Deutsche Borse had originally purchased ISE at a nearly double the price that it offloaded it to Nasdaq, leading to a loss which materialized now that the sale has fully been completed.
Last month Nasdaq planned on a public offering of euro-denominated senior notes, as it expected to use the proceeds for various purposes including the ISE transaction which is now complete.
The news follows after Nasdaq recently named Michael Ptasznik as its new CFO after he departed from TMX group in Canada where he held the same title. Deutsche Borse’s proposed merger transaction with the London Stock Exchange has recently come under the lens in the wake of last week’s Brexit vote, yet remains on track as highlighted by Finance Magnates and elsewhere in the media.
For Deutsche Borse, this news also follows the creation of its DB1 Venture to invest in selective fintech startups, and as Germany looks to strengthen its position as a fintech hub.