Banks Snap Up Traiana Stake from Icap
The banks included in the sale are Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, JPMorgan, Nomura, and RBS. The deal values the platform, which automates significant parts of the post-trade cycle and is used by over 500 market participants, at around $300 million. Icap paid $247 million when it acquired Traiana in 2007.
As part of the deal, representatives from each bank will join the Traiana board, headed by CEO Andy Coyne and founder Gil Mandezis.
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