Fixed income exchange MarketAxess has agreed to acquire European post-trade services group Xtrakter from Euroclear for £26 million in cash.
A really interesting deal! As the post trade operational areas are all in vogue and competition increases. This deal has potential to produce alternatives to fixed income post trade but also possibly accross asset classes. If so this could be a very major
deal of change. Hopefully more detail will emerge in due course and a clearer evaluation can be made. I wonder why Euroclear sold?
to £90k baseLondon, UK or East-Coast, USA
© Finextra Research 2013