IPC To Incorporate Just Acquired Mxnet Into Its Ixnet Virtual Private Network Unit
MARKET DATA DISTRIBUTION
NEW YORK--Once the recently announced merger between market data outsourcer Mxnet and turret provider IPC Information Systems is complete, Mxnet will be folded into IPC's Ixnet unit, say IPC officials.
IPC recently announced it has acquired Mxnet, an offsite supplier of market data platforms for smaller users, from the National Discount Brokers Group in a $6.7 million cash transaction. National Discount Brokers, formerly known as the Sherwood Group, is a financial backer of Mxnet.
Ixnet provides
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