ICE will acquire fixed income trading venue BondPoint for $400 million in cash.
Bloomberg
Virtu Financial (NASDAQ:VIRT) has continued making moves that will shake up the institutional space. After acquiring KCG Holdings (NYSE:KCG) in a landmark deal earlier this year, the group has undergone an agreement to offload fixed income trading venue BondPoint to Intercontinental Exchange.
BondPoint is a provider of electronic fixed income trading solutions, delivering access to centralized Liquidity and automated, cost-efficient trade Execution services. The deal will net Virtu Financial upwards of $400 million for the fixed income trading venue. By extension, Intercontinental Exchange (ICE) will strengthen its own operations with the group, which caters to both buy-side and sell-side traders.
Douglas A. Cifu, Chief Executive Officer of Virtu, commented on the sale: "After a thorough analysis, we concluded that BondPoint is a unique asset better suited to operate outside of Virtu’s core operations. Following a competitive process, ICE distinguished itself as a strong and stable global organization that could provide the best home for BondPoint, its customers, and its employees.”
The deal is important for both parties and a game changer in the fixed income space for ICE. BondPoint represents an electronic marketplace linking more than 500 financial services firms. The move should help ICE bolster its own fixed income operations in its latest M&A activity of 2017.
Despite the announcement, the sale of BondPoint is expected to be completed in by Q1 2018, pending the requisite regulatory reviews and approvals. For its part, Virtu Financial will provide additional details during its Q3 earnings call early next month on November 7, 2017. The $400 million that Virtu Financial will net is likely to be used to repay a portion of its outstanding term loan.
“The management team of BondPoint has done an extraordinary job over the years creating a leading franchise in credit trading,” added Mr. Cifu.
Virtu Financial (NASDAQ:VIRT) has continued making moves that will shake up the institutional space. After acquiring KCG Holdings (NYSE:KCG) in a landmark deal earlier this year, the group has undergone an agreement to offload fixed income trading venue BondPoint to Intercontinental Exchange.
BondPoint is a provider of electronic fixed income trading solutions, delivering access to centralized Liquidity and automated, cost-efficient trade Execution services. The deal will net Virtu Financial upwards of $400 million for the fixed income trading venue. By extension, Intercontinental Exchange (ICE) will strengthen its own operations with the group, which caters to both buy-side and sell-side traders.
Douglas A. Cifu, Chief Executive Officer of Virtu, commented on the sale: "After a thorough analysis, we concluded that BondPoint is a unique asset better suited to operate outside of Virtu’s core operations. Following a competitive process, ICE distinguished itself as a strong and stable global organization that could provide the best home for BondPoint, its customers, and its employees.”
The deal is important for both parties and a game changer in the fixed income space for ICE. BondPoint represents an electronic marketplace linking more than 500 financial services firms. The move should help ICE bolster its own fixed income operations in its latest M&A activity of 2017.
Despite the announcement, the sale of BondPoint is expected to be completed in by Q1 2018, pending the requisite regulatory reviews and approvals. For its part, Virtu Financial will provide additional details during its Q3 earnings call early next month on November 7, 2017. The $400 million that Virtu Financial will net is likely to be used to repay a portion of its outstanding term loan.
“The management team of BondPoint has done an extraordinary job over the years creating a leading franchise in credit trading,” added Mr. Cifu.
GCEX Secures MiCA Licence in Denmark as EU Crypto Regulation Takes Shape
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
