Deutsche Börse acquires FX ECN platform
01 June 2018 Frankfurt
Image: Shutterstock
Deutsche Börse will acquire GTX’s ECN business from GAIN Capital Holdings for $100 million.
With this transaction, Deutsche Börse Group's foreign exchange unit 360T will expand its participation in the global FX market.
The transaction is a part of Deutsche Börse’s initiative, Roadmap 2020, aimed at growing its business through add-on acquisitions.
According to Deutsche Börse, 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 Börse’s return on investment target of more than 10 percent at the latest in year three post-closing.
Carlo Kölzer, head of FX at Deutsche Börse 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 Börse Group's foreign exchange unit 360T will expand its participation in the global FX market.
The transaction is a part of Deutsche Börse’s initiative, Roadmap 2020, aimed at growing its business through add-on acquisitions.
According to Deutsche Börse, 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 Börse’s return on investment target of more than 10 percent at the latest in year three post-closing.
Carlo Kölzer, head of FX at Deutsche Börse 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."
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