Day: 26 September 2016

CBOE to Buy Bats Global Markets for $3.2 Billion

CBOE Holdings has confirmed its plan to buy Bats Global Markets for a total of approximately $3.2 billion, with trading across all asset classes expected to migrate onto a single platform utilising Bats’ proprietary trading technology. The transaction is expected to close in the first half of 2017, subject to regulatory approvals.

While the Bats-owned Hotspot FX business is not expected to be materially impacted, the combination of CBOE’s futures platform and Hotspot’s spot FX products creates a unique opportunity, Chris Concannon, Bats’ CEO, told Profit & Loss on a media call.

LMAX Exchange Live at NY4

LMAX Exchange is expanding its infrastructure by launching a North American matching engine in the Equinix International Business Exchange data centre in New York (NY4).
The matching engine is a new liquidity pool for institutional spot FX trading, which the firm says is built specifically for funds, asset managers, brokerages and banks.
The new exchange enables North American clients to trade on, no ‘last look’ limit order liquidity. LMAX says US clients will further benefit from low latency execution, high fill rates, price improvement as standard and access to real time streaming market data.

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