Deutsche B枚rse acquires FX ECN platform
01 June 2018 Frankfurt
Image: Shutterstock
Deutsche B枚rse will acquire GTX鈥檚 ECN business from GAIN Capital Holdings for $100 million.
With this transaction, Deutsche B枚rse Group's foreign exchange unit 360T will expand its participation in the global FX market.
The transaction is a part of Deutsche B枚rse鈥檚 initiative, Roadmap 2020, aimed at growing its business through add-on acquisitions.
According to Deutsche B枚rse, GTX ECN complements 360T's existing product suite by adding access to FX Spot liquidity supported by professional financial institutions.
The acquisition is expected to be cash accretive in year one after closing, and is expected to meet Deutsche B枚rse鈥檚 return on investment target of more than 10 percent at the latest in year three post-closing.
Carlo K枚lzer, head of FX at Deutsche B枚rse Group and CEO of 360T, said: "The acquisition of the GTX ECN business, a highly reputable player in the FX market, is a meaningful addition not only to broaden our existing offering but also to complete our holistic value proposition designed to support all clients that operate out of all geographies and client segments based on current or potential future market structure."
With this transaction, Deutsche B枚rse Group's foreign exchange unit 360T will expand its participation in the global FX market.
The transaction is a part of Deutsche B枚rse鈥檚 initiative, Roadmap 2020, aimed at growing its business through add-on acquisitions.
According to Deutsche B枚rse, GTX ECN complements 360T's existing product suite by adding access to FX Spot liquidity supported by professional financial institutions.
The acquisition is expected to be cash accretive in year one after closing, and is expected to meet Deutsche B枚rse鈥檚 return on investment target of more than 10 percent at the latest in year three post-closing.
Carlo K枚lzer, head of FX at Deutsche B枚rse Group and CEO of 360T, said: "The acquisition of the GTX ECN business, a highly reputable player in the FX market, is a meaningful addition not only to broaden our existing offering but also to complete our holistic value proposition designed to support all clients that operate out of all geographies and client segments based on current or potential future market structure."
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
