Deutsche Börse is acquiring a majority interest in Quantitative Brokers, a buy-side supplier of execution algorithms and data-driven analytics for global futures, options and interest rate markets.
The transaction will move Deutsche Börse closer to the sources of trading interest in the buy side value chain, accelerating buy side product adoption and order flow attraction in the Exchange Traded Derivatives segment.
Thomas Book, head of the trading & clearing division of Deutsche Börse, says: “We are investing in a growth business with a renowned, innovative and leading quant team delivering a unique set of competencies in algorithmic execution. The exciting QB platform and team are a perfect fit with both our existing business and our long-term strategic perspective.”
The company will be majority owned by Deutsche Börse, with the founders retaining significant portions of their shareholdings and continuing in their respective roles; Christian Hauff will continue as CEO and Robert Almgren as Chief Scientist.
The fintech company, which has operations in New York, London, Sydney and Chennai, is expected to report $25 million in revenue in 2020.
The parties expect to finalise the transaction by the end of this year. Specific terms of the transaction were not disclosed.