Deutsche Börse Weighs Acquisition of Reuters' FXall Unit
- Blackstone Group, which acquired Thomson Reuters’ financial-and-risk arm (Refinitiv), was reportedly weighing the sale of FXall.
Deutsche Börse Group is mulling the acquisition of Thomson Reuters’ FXall, an electronic FX 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 to corporations and asset managers. The news was first reported by German financial daily Handelsblatt, citing Deutsche Boerse’s Global Head of FX Carlo Koelzer, who was quoted as saying “If FXall were put on the market we would of course look at it.”
If confirmed, the move would mark Deutsche Borse’s continued expansion motive in the foreign exchange space and institutional level trading businesses. It comes after nearly three years of Deutsche Borse’s foray into FX ECN of its own with the acquisition of 360T, which turned to be the center of the exchange’s global FX business.
Also last year, the German Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term operator acquired GAIN Capital’s trading venue GTX ECN for $100 million as it looks to expand its FX business in the US. The takeover deal saw GTX ECN integrated with the exchange operator’s FX trading platform 360T to create one of the largest OTC FX spot, forwards, swaps, NDFs and options marketplaces.
Tradeweb Markets also on the table
Meanwhile, the news also comes amid a wider upheaval in the ownership of trading venues and financial technology companies. All major exchanges around the globe have been venturing deep into the FX space including Cboe’s takeover of Hotspot in 2015 and Euronext acquisition of Fastmatch in 2017.
Thomson Reuters bought FXall in 2012 for $620 million in cash. FXall’s services are used by 180 banks and over 2,300 institutional clients that make markets for foreign exchange products, including asset managers, corporations, banks, broker-dealers, and hedge funds.
Blackstone Group LP, which completed the buyout of a majority stake in Thomson Reuters’ financial-and-risk arm (Refinitiv), was reportedly weighing the sale of FXall. At the time, Bloomberg said the deal could fetch more than $3 billion, citing a source with intimate knowledge of the matter. Blackstone was also said mulling a sale or public offering of Tradeweb Markets LLC, Refinitiv’s fixed income platform that a number of big banks own stakes in.
Deutsche Börse Group is mulling the acquisition of Thomson Reuters’ FXall, an electronic FX 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 to corporations and asset managers. The news was first reported by German financial daily Handelsblatt, citing Deutsche Boerse’s Global Head of FX Carlo Koelzer, who was quoted as saying “If FXall were put on the market we would of course look at it.”
If confirmed, the move would mark Deutsche Borse’s continued expansion motive in the foreign exchange space and institutional level trading businesses. It comes after nearly three years of Deutsche Borse’s foray into FX ECN of its own with the acquisition of 360T, which turned to be the center of the exchange’s global FX business.
Also last year, the German Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term operator acquired GAIN Capital’s trading venue GTX ECN for $100 million as it looks to expand its FX business in the US. The takeover deal saw GTX ECN integrated with the exchange operator’s FX trading platform 360T to create one of the largest OTC FX spot, forwards, swaps, NDFs and options marketplaces.
Tradeweb Markets also on the table
Meanwhile, the news also comes amid a wider upheaval in the ownership of trading venues and financial technology companies. All major exchanges around the globe have been venturing deep into the FX space including Cboe’s takeover of Hotspot in 2015 and Euronext acquisition of Fastmatch in 2017.
Thomson Reuters bought FXall in 2012 for $620 million in cash. FXall’s services are used by 180 banks and over 2,300 institutional clients that make markets for foreign exchange products, including asset managers, corporations, banks, broker-dealers, and hedge funds.
Blackstone Group LP, which completed the buyout of a majority stake in Thomson Reuters’ financial-and-risk arm (Refinitiv), was reportedly weighing the sale of FXall. At the time, Bloomberg said the deal could fetch more than $3 billion, citing a source with intimate knowledge of the matter. Blackstone was also said mulling a sale or public offering of Tradeweb Markets LLC, Refinitiv’s fixed income platform that a number of big banks own stakes in.