Reuters and Thomson Come to Terms

Pundits who predicted that Reuters Founders Share would throw a spanner into Reuters’ potential merger with Thomson Corporation were proved wrong last week; and the merger looks set to go ahead.   The Founders Share Company is a group of independent trustees which holds the “golden share”, sometimes called the poison pill, in Reuters. It […]
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Deutsche Brse Eurex Takes ISE

Deutsche Brse, through its Eurex joint venture with SWX Swiss Exchange, and the International Securities Exchange (ISE) have agreed to merge, creating what will be the largest trans-Atlantic derivatives exchange.   Deutsche Brse Eurex and ISE signed a definitive agreement last week under which Eurex will acquire ISE for approximately $2.8bn in cash, following board […]
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Thomson Takes Aim at Reuters?

Just 24 hours before Reuters CEO Tom Glocer was scheduled to give a keynote presentation at the ACI’s 46th World Congress in Montreal, the news hit that Canadian-owned Thomson Corporation was making a play for Reuters (Glocer did not speak in the end, Reuters sent Americas president Jon Robson instead).   Reuters confirmed that it […]
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Barclays Moves on ABN, but Citi Hovers Menacingly?

Barclays, Britain‘s third biggest bank, said last week that it was in exclusive merger talks with ABN Amro. The proposed 80 billion merger would create Europe‘s largest cross-border transaction to date and the world’s fifth largest bank   Barclays said a combined company would be listed in London but headquartered in Amsterdam, with the Dutch […]
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State Street Completes Currenex Acquisition

State Street Corp. has completed its $564 million acquisition of online foreign exchange trading system provider Currenex.   The all-cash deal, announced on January 22, 2007, accelerates State Street‘s participation in the fast growing electronic foreign exchange trading market while significantly increasing and diversifying its trading customer base beyond traditional asset managers to include more […]
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Currenex Was Subject to Multiple Bids

Although initial reaction to State Street’s $564 million acquisition of Currenex was one of surprise over the price paid, as reported in last week’s Squawkbox, sources close to the companies say that at least two other expressions of interest were received by Currenex over the last few months – both from companies with no FX […]
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GL Trade Buys FNX

GL Trade, a provider of front to back office trading systems and market data, has moved to strengthen its position in the US by acquiring FNX Solutions, which specialises in the management and processing of OTC products for capital markets and hedge funds and is mainly based in the US and Japan. The deal, terms […]
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State Street Spends $564 Million on Currenex

Consolidation in the multi-participant trading platform space has long been talked about but it has now taken a step forward with news that State Street Corp. has agreed to acquire Currenex, the independently owned online foreign exchange trading platform for $564 million in cash. "The acquisition will accelerate State Street's participation in the fast growing […]
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ASSIOM joins European Capital Markets Alliance

ASSIOM, the Italian association of capital markets operators, has joined the European Financial Markets Federation (EFMF), bringing the number of associations within the Federation to four. The addition of ASSIOM, a group representing over 1,400 capital market operatives from Italian banks and financial institutions, is a significant advance towards forging closer co-operation between financial market […]
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CST to Boost CDS Market Share with Chapdelaine Acquisition

UK broker Collins Stewart Tullett (CST) is boosting its market share in credit derivatives in North America with the acquisition of New York broker Chapdelaine Corporate Scurities for $95 million in cash. It says it would combine the company with Tullett Prebon when the two parts of Collins Stewart Tullett demerge in December to form […]
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