Tag: e-Mid

e-Mid

Nex Completes e-Mid Acquisition

BrokerTec, Nex Group’s electronic fixed income trading platform, has announced it has recieved Bank of Italy approval to complete the transaction to acquire a majority stake in e-Mid, the first Italian electronic central limit order book (CLOB) platform for interbank deposits and Overnight Indexed Swaps (OIS).
Nex says the transaction offers BrokerTec Europe a strong footprint in the important Italian debt and money markets.
As a subsidiary of BrokerTec Europe, e-Mid will offer its Italian government bond repo and interbank deposit businesses to BrokerTec’s client base while BrokerTec will integrate the e-Mid technology, provided by List, into its technology architecture.

e-Mid Added to the Nex Group

BrokerTec, Nex Group’s electronic fixed income trading platform, has agreed to acquire a controlling majority stake in e-Mid, the Italian electronic central limit order book (CLOB) for interbank deposits and Overnight Indexed Swaps (OIS).
The transaction is subject to certain conditions, including the approval of the Bank of Italy, the firm says that subject to receipt of this approval it expects the transaction to complete in the next few months.
Upon completion of the transaction, e-Mid will become a subsidiary of BrokerTec Europe Ltd.