Nyse Euronext to buy Japan's Metabit

Nyse Euronext to buy Japan's Metabit

Nyse Euronext has agreed a buy Metabit, a Tokyo-based provider of market access products throughout Asia. Financial terms of the deal were not disclosed.

Metabit's technology connects buy-side order flow with sell-side exchange participants and is designed exclusively for low latency direct market access and connectivity to markets throughout Asia.

Headquartered in Tokyo, with offices in Australia and Hong Kong, the firm has built up a community of more than 140 trading firms in Asia.

The company will operate a product line within the Nyse Technologies portfolio, when the deal closes in the third quarter, boosting the exchange operator's Asian technology capabilities as it seeks to build a "global liquidity network".

Stanley Young, CEO, Nyse Technologies, says: "Metabit's products are built in Asia for Asia, and this combination fits our strategy, our connectivity business and our customer interests."

Meanwhile, Nyse Euronext has reported second quarter net profit of $154 million, down from $184 million the previous year, in part thanks to costs related to its planned merger with Deutsche Boerse. However, the information and technology unit fared well, recording a 14% rise in revenues to $122 million.

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