The New York Stock Exchange has acquired a majority equity stake in Marco Polo Network (MPN), an electronic trading platform focused on the emerging markets. Financial terms of the deal were not disclosed.
Nsye says the deal will enable it to provide enhanced access to emerging markets securities.
Through local exchange and brokerage alliances, MPN provides intra-market connectivity and routing to brokers and exchanges in more than 40 emerging markets.
Vinode Ramgopal, MPN's CEO says the emerging markets are the fastest growing component of the global capital markets and in aggregate are the second-largest equity markets in the world as measured by capitalisation and turnover.
"Investor demand for rapid and transparent access to these markets is already substantial; it is set to accelerate and diversify as local equity derivatives and fixed income markets join the fray," says Ramgopal. "MPN's partnership with the Nyse is an exciting initiative to expand global investor access to these markets."
Commenting on the deal, Catherine Kinney, Nyse Group president and co-COO, says: "Combining the Nyse's global footprint with MPN's global brokerage connectivity through local intermediaries will facilitate enhanced cross-border capital flows. This is a unique opportunity for the Nyse Group and Marco Polo Network to gain complementary business at the onset of further globalisation of the capital markets."
Under the deal Nyse will have one seat on MPN's board.