Exchange operator CME Group has agreed a deal to buy the Trayport and Fenics trading technology units from GFI Group in a deal worth around $655 million.
Trayport provides trading software for the European energy markets, while Fenics offers price discovery, analytics, risk management and workflow connectivity services for the global OTC FX options markets.
In a transaction designed to keep taxes down, CME Group will pay around $580 million in shares for GFI and assume $240 million in outstanding debt, for a total value of $820 million.
The exchange operator will then immediately sell back GFI's wholesale brokerage business to a consortium led by the current management for $165 million in cash and the assumption of $63 million in liabilities.
This arrangement means that the moves qualify as tax-free exchanges of equity for both groups. The transaction - subject to the GFI shareholder approval - is expected to close in early 2015.
Explaing the acquisition, Phupinder Gill, CEO, CME Group, says: "Overall, we see a number of opportunities with Trayport as we expand our global footprint, including facilitating and servicing Asian energy markets as they emerge.
"The addition of Fenics will allow our FX futures and options business to more effectively and efficiently integrate and connect with the global OTC FX options marketplace."