The US exchange giant wants to reposition itself in European and Asian energy, and the OTC FX markets
The CME’s $580m acquisition of GFI tech unit
Trayport gives the Merc a key foothold in Europe and Asia as
the CME aims to challenge the energy dominance of the
IntercontinentalExchange but the deal does raise questions over
the future of platform CME Direct.
The CME acquisition of Trayport and GFI’s
foreign exchange unit Fenics on Wednesday for $4.55 a share of
CME stock saw GFI split into the tech parts acquired by CME and
the legacy GFI broker business which was bought by management
for $165m in cash and $63m of unvested compensation.
The US exchange group, which launched only three months ago
its first European exchange, made plain the acquisition was
driven by the desire to boost its presence in European
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