RFQ-hub, the multi-dealer platform for listed and OTC derivatives, is selling a minority stake to Deutsche Börse, hoping to gain “neutral investment with the benefit of operational synergies”.
a strategic move for them [Deutsche Börse]," explained Jez
Bezant, RFQ-hub’s head of business development.
"They’ve slowly been moving towards this area for
a while now. They’re a good company, quite neutral
from an independence point of view, but obviously also a good
partner in terms of synergies."
is to acquire a minority stake in RFQ’s parent
company ID’s for no more than €9m.
RFQ-hub provides a
software system enabling asset managers to post multi-dealer,
bilateral requests for quotes on cash equities and derivatives.
The service went live in April 2009 and is supported by more
than 10 of the largest equity derivatives dealers and
exchanges group, operator of Eurex, Europe’s
largest futures exchange, was at the head of a long list of
suitors, Bezant revealed. Deutsche Börse hopes the move
offers scope to extend its provision of pre-trade price
transparency services for institutional investors across its
equity and derivatives markets.