MarketAxess Acquires Xtrakter - Analyst Blog
06 Marzo 2013 - 10:20AM
Zacks
Recently, MarketAxess Holdings Inc. (MKTX)
announced that it has completed the acquisition of Xtrakter
Limited. The net purchase consideration, after deducting acquired
cash, amounts to £25.3 million ($38.5 million). MarketAxess
completed the acquisition from Euroclear on Feb 28, 2013, after
obtaining approval from the UK Financial Services Authority.
Xtrakter is among the market leaders in providing regulatory
transaction and financial market data along with trade matching
services to the European securities markets. MarketAxess expects
the addition of the company to provide competitive advantage in
terms of adapting and benefiting from the changing fixed income
market. It expects to gain from the opportunities arising from the
new regulations being formed.
MarketAxess hopes to work with Xtrakter to develop innovative
fixed income trading and data solutions for European investors and
broker-dealers. Post acquisition, MarketAxess will benefit from the
combination of a broad market and reference data and the complete
suite of trade protocols and post-trade services, which will help
it to deliver enhanced fixed income trading and investment risk
solutions to its customers.
Concurrently, MarketAxess appointed an experienced professional
with expertise in global management consulting and banking to
manage its European and Asian businesses.
MarketAxess’ peers also regularly acquire businesses to expand
their business. In Dec, 2012, NASDAQ OMX Group
Inc. (NDAQ) announced its intention to purchase the
corporate management arm of Thomson Reuters. In the same month,
IntercontinentalExchange Inc. (ICE) announced its
intention to buy the largest stock exchange based on listings –
NYSE Euronext Inc. (NYX) – for $8.2 billion.
MarketAxess carries a Zacks Rank #3 (Hold).
INTERCONTINENTL (ICE): Free Stock Analysis Report
MARKETAXESS HLD (MKTX): Free Stock Analysis Report
NASDAQ OMX GRP (NDAQ): Free Stock Analysis Report
NYSE EURONEXT (NYX): Free Stock Analysis Report
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