Deutsche Bourse makes move on currency markets with 360T acquisition

Deutsche Bourse makes move on currency markets with 360T acquisition

Deutsche Bourse is wading into the $5.3 trillion a day currency markets with a EUR725 million acquisition of multi-bank FX trading platform 360T.

Launched in 2000, 360T caters to a broad customer base including corporates, buy-side firms, and banks, and has a record of double-digit annual revenue growth since inception.

The German exchange's move comes six months after Bats Global Markets shelled out $365 million on Hotspot FX, as the world's biggest trading venues detect weaknesses in scandal-wracked bank control of the global currency markets.

Deutsche Bourse says it plans to finance the acquisition via a combination of debt and equity, with the aim to minimise a potential impact on the credit rating.

Separately, Deutsche Bourse has entered into a binding agreement with SIX Group regarding the full acquisition of the joint ventures Stoxx AG and Indexium AG for a purchase price of CHF650 million.

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