Deutsche Börse To Spend €725 Million on 360T FX Trading Platform Acquisition

Exchange operator enters into “definitive agreement” to acquire FX platform after seeing off interest from CME Group.

carstenkengeter
Carsten Kengeter, joined Deutsche Börse in June as the group's CEO.
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An agreement was announced on Sunday between Deutsche Börse and shareholders of 360T Beteiligungs, including Summit Partners 360. The exchange said the move is expected to "further accelerate 360T's organic growth trajectory".

The acquisition signals the intent of new Deutsche Börse CEO Carsten Kengeter, who joined the firm in June to expand the exchange's operations, with FX, a particularly lucrative market. Deutsche Börse is also in discussions with Swiss Six Group over index joint venture Stoxx and its index calculation and operation business indexium.

The deal is the largest of its kind for the firm since the 2007 acquisition of US derivatives exchange ISE for $2.8 billion. A bid to acquire the New York Stock Exchange collapsed in 2012.

In a statement Deutsche Börse said it would finance the acquisition through "a combination of debt and equity, with the aim to minimize a potential impact on the credit rating."

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