The Deutsche Börse Group has announced today that it is buying the German-based institutional forex platform 360T, putting an end to months of speculations. The acquisition deal is priced at €725 million.
As forex trading becomes more regulated and centralized, established venues are seeking for a place in the transition
A rival of Thomson Reuters FX Connect and Bloomberg, 360T operates an interbank currency trading platform, including spot, forwards, options and swap products. Among bank trading desks, 360T is a key platform for discovering Liquidity to hedge internal risk, such as currency exposure of mortgages and commercial loans.
In addition, 360T operates other services such as FinBird Trading Solutions. A financial technology company, FinBird provides brokers and banks with solutions to offer margin trading to their customers. Services include Liquidity Aggregation , MT4 white labeling, CRMs, and risk management tools to handle both STP and market making of customer order flow. In regards to liquidity, FinBird acts as a conduit for its parent company, providing its clients connectivity to the 360T platform.
As forex trading is becoming more regulated and centralized globally, established equities and commodities venues are positioning themselves to be a central part of this transition. With this move, the German group has now gained an advantage over its rivals international exchanges.
"The combination will facilitate significant double-digit million Euro revenue synergies in the mid-term by utilising Deutsche Börse Group's international distribution capabilities and expertise," Deutsche Börse said in a statement today.
The Frankfurt-based stock market operator added that it plans to finance the acquisition via a combination of debt and equity, and that it expects the transaction to be immediately accretive to cash earnings per share.
