Deutsche Börse Takes Minority Stake in Bondcube
Financial terms were not specifically disclosed, but the exchange group said that it was in the low single-million digits (GBP). Bondcube, based in London and Boston, connects dealers and clients in a single electronic marketplace, and was started by a former Deutsche Bank executive in 2013. Access is provided free-of-charge to buy-side firms, with a pricing structure for the sell side.
"This investment in Bondcube highlights our focus on using innovation to drive growth and buoyancy in financial markets whilst ensuring integrity and safety for all," , says Johannes Weßling, head of bonds trading at Deutsche Börse. "Through this exciting move, Deutsche Börse enlarges its client reach with direct access to the buy side whilst offering unique benefits to the sell side with no disintermediary effect."
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