Deutsche Börse to buy financial news agency from Xinhua

Deutsche Börse to buy financial news agency from Xinhua

Deutsche Börse is to acquire the US-based financial news agency Market News International (MNI). A purchase agreement was signed last Friday. Market News International will become a 100 per cent subsidiary of Deutsche Börse for US$10 million in cash. The transaction is expected to close by the end of January 2009, subject to approval of the German competition commission (Bundeskartellamt).

MNI has direct access to news rooms from government agencies and supranational organisations such as the World Bank and the International Monetary Fund. Via MNI’s access to these sources, Deutsche Börse is to expand its real-time information offerings for the financial markets.

“The acquisition of MNI is consistent with our growth strategy of adding globally relevant trading data to our real-time data feeds. Market participants pursuing automated trading strategies and quants will benefit from new trading signals for their algorithms,” said Holger Wohlenberg, managing director of Deutsche Börse Market Data & Analytics.

Market News International was a subsidiary of Xinhua Finance, China’s leading financial information provider. The company has a staff of 85 employees at 12 locations in Europe, Asia and the United States.

Comments: (0)