Following FXCM, Credit Suisse Closes Sale of its Stake in FastMatch to Euronext
- This transaction aims to establish Euronext's presence in the FX segment.
NEXT Investors, Credit Suisse’s Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term investment fund, has sold its stake in FastMatch, the 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 for corporate clients, to Euronext after receiving regulatory and anti-trust approvals. No financial terms were disclosed.
Credit Suisse NEXT Investors is a New York-based venture capital firm that offers startup and later stage investments.
The announcement comes almost in parallel with a similar deal announced earlier this week with FXCM which also completed the previously announced sale of its stake in FastMatch for approximately $46.7 million. FXCM, which had owned 30% of FastMatch, will also receive an addition boost in the form of a share of a $10 million earnout, pending certain performance targets to be met by the FX ECN.
This transaction aims to establish Euronext's presence in the FX segment whilst bolstering FastMatch's European presence through increased access to institutional clients across Europe.
Founded as a joint venture by the Swiss bank Credit Suisse and FX broker FXCM in 2012, FastMatch provides an electronic currency trading platform mostly for institutional clients such as banks, asset managers and hedge funds. The group saw average daily volumes (ADV) of $18 billion in July 2017.
NEXT Investors, Credit Suisse’s Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term investment fund, has sold its stake in FastMatch, the 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 for corporate clients, to Euronext after receiving regulatory and anti-trust approvals. No financial terms were disclosed.
Credit Suisse NEXT Investors is a New York-based venture capital firm that offers startup and later stage investments.
The announcement comes almost in parallel with a similar deal announced earlier this week with FXCM which also completed the previously announced sale of its stake in FastMatch for approximately $46.7 million. FXCM, which had owned 30% of FastMatch, will also receive an addition boost in the form of a share of a $10 million earnout, pending certain performance targets to be met by the FX ECN.
This transaction aims to establish Euronext's presence in the FX segment whilst bolstering FastMatch's European presence through increased access to institutional clients across Europe.
Founded as a joint venture by the Swiss bank Credit Suisse and FX broker FXCM in 2012, FastMatch provides an electronic currency trading platform mostly for institutional clients such as banks, asset managers and hedge funds. The group saw average daily volumes (ADV) of $18 billion in July 2017.