BrokerTec Europe Acquires e-MID SIM in Bid to Grow Footprint in Italy
- The acquisition was approved by the Bank of Italy, helping BrokerTEC strengthen its market penetration domestically.
BrokerTec has acquired a majority stake in e-MID SIM SpA (e-MID), an Italian electronic central limit order book (CLOB) platform catering to interbank deposits and Overnight Indexed Swaps (OIS).
The acquisition follows on the heels of an approval from the Bank of Italy, helping BrokerTEC strengthen its market penetration in the country whilst maintaining a growing footprint in the important Italian debt and money markets.
Following the acquisition, e-MID will act as a subsidiary of BrokerTec Europe Ltd – the group will offer its Italian Government Bond Repo and interbank deposit businesses to BrokerTec's wide range of international clients. Furthermore, BrokerTec will also be integrating e-MID technology into its existing technology infrastructure, facilitating an offering of additional eurozone Repo and Government Bond products.
The acquisition will not result in a widespread shakeup of management, as Giuseppe Attana is slated to remain as Chairman of the e-MID Board, while John Edwards, Richard Leighton and Lorenzo Ruffatti will all be joining e-MID's Board to represent BrokerTec and the broader NEX Group.
According to Seth Johnson, Chief Executive Officer of EBS BrokerTec, in a statement on the acquisition: "This acquisition is an important strategic step for BrokerTec. e-MID is the leading provider for the Italian interbank deposit and money markets which are the largest in Europe.”
“We are committed to growing our footprint in this central market and to contributing to its development and evolution. e-MID brings access to the domestic financial community in Italy and we will work closely with the management team to develop existing products and services, as well as to offer EBS BrokerTec products to the current client base,” he added.
EBS BrokerTec made headlines earlier this week after it unveiled a new internalized structure for its electronic foreign exchange (FX) operations, focusing on a total of seven new core areas. Its new operational regime will be taking effect immediately, emphasizing products, sales, emerging markets (EM), forwards, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term management, trading Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term, and prime and credit management.
BrokerTec has acquired a majority stake in e-MID SIM SpA (e-MID), an Italian electronic central limit order book (CLOB) platform catering to interbank deposits and Overnight Indexed Swaps (OIS).
The acquisition follows on the heels of an approval from the Bank of Italy, helping BrokerTEC strengthen its market penetration in the country whilst maintaining a growing footprint in the important Italian debt and money markets.
Following the acquisition, e-MID will act as a subsidiary of BrokerTec Europe Ltd – the group will offer its Italian Government Bond Repo and interbank deposit businesses to BrokerTec's wide range of international clients. Furthermore, BrokerTec will also be integrating e-MID technology into its existing technology infrastructure, facilitating an offering of additional eurozone Repo and Government Bond products.
The acquisition will not result in a widespread shakeup of management, as Giuseppe Attana is slated to remain as Chairman of the e-MID Board, while John Edwards, Richard Leighton and Lorenzo Ruffatti will all be joining e-MID's Board to represent BrokerTec and the broader NEX Group.
According to Seth Johnson, Chief Executive Officer of EBS BrokerTec, in a statement on the acquisition: "This acquisition is an important strategic step for BrokerTec. e-MID is the leading provider for the Italian interbank deposit and money markets which are the largest in Europe.”
“We are committed to growing our footprint in this central market and to contributing to its development and evolution. e-MID brings access to the domestic financial community in Italy and we will work closely with the management team to develop existing products and services, as well as to offer EBS BrokerTec products to the current client base,” he added.
EBS BrokerTec made headlines earlier this week after it unveiled a new internalized structure for its electronic foreign exchange (FX) operations, focusing on a total of seven new core areas. Its new operational regime will be taking effect immediately, emphasizing products, sales, emerging markets (EM), forwards, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term management, trading Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term, and prime and credit management.