NYSE signals a new era with swoop for Fixnetix
NYSE Euronext is attempting to bounce back from its failed merger with Deutsche Boerse by taking a 25 per cent stake in UK trading technology company Fixnetix.
The index will pay £17.5m initially in a deal valuing Fixnetix at £100m. It has the option to buy the rest of the business by 2015.
Stanley Young, chief executive of NYSE Technologies, said the two firms’ experience in multi-asset trading technology would “create an even more compelling value proposition for market participants trading anywhere in the world”.
Last week NYSE narrowly beat analysts’ forecasts to post a 13 per cent rise in fourth-quarter operating profit to $212m (£134m). It is shifting its focus to faster-growing areas like supplying computer systems and information from trading following the collapse of the Deutsche deal because of concerns raised by the EU Competition Commissioner.