Deutsche Börse in Talks with Refinitiv Over FX Business

Deutsche Börse Group confirms that it is in talks with Refinitiv regarding the possibility of buying its FX-related businesses.

In a statement issued today, a Refinitiv spokesperson confirms that the company is in “ongoing discussions” with the German-based exchange operator for a deal “which could include the divestiture of certain of its FX products”.

This is hardly surprising news for regular readers of Profit & Loss given that in our recent analysis we ranked Deutsche Börse Group as the most likely candidate to buy part or all of Refinitiv’s FX-related businesses.

Reuters reported earlier today that Deutsche Börse Group was set to buy FXall for $3.5 billion, although in a subsequent article the exchange group is quoted as stating this price tag and reports of the imminent signing of a contract for the deal are “unfounded”.

Any deal would make the latest in a series of OTC FX acquisitions for the exchange operator after it bought 360T in 2015 and then GTX in 2018.

In a recent interview with Profit & Loss when Carlo Kölzer, CEO of 360T Group and global head of FX at Deutsche Börse, was pressed about the possibility of the firm making more acquisitions in FX, he commented: “If you’re a professional in this business, you have to look at organic and inorganic growth. If there are assets in the industry available, we will look at them. That doesn’t mean we will actually go out and get them.”

Galen Stops

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