Deutsche Börse Gets Green Light For 360T Acquisition

Exchange group Deutsche Börse has completed its acquisition of foreign exchange trading platform 360T for €725 million.

The deal was first announced in July, following an agreement between Deutsche Börse and shareholders of 360T Beteiligungs, including Summit Partners 360, the previous owners of the platform.

Having received regulatory approval from antitrust authorities and the German Federal Financial Supervisory Authority (BaFin) the acquisition has been completed.

360T will be the centre of competence of Deutsche Börse Group’s global Forex strategy. The 360T management is mandated to continue developing and expanding its highly successful business model as it will be empowered by the broad capabilities of Deutsche Börse Group.

Existing legal agreements and obligations of 360T will remain unaffected by its integration into Deutsche Börse Group.

The management of Deutsche Börse has pointed out that the new ECN-type trading venue for FX spot which can also be used for derivatives instruments is one of the key synergies of the deal.

“360T’s impressive growth trajectory since its inception and its dynamically evolving position in the FX market makes it a substantial addition to broaden our asset class spectrum. It is a great strategic fit. The deal underpins part of our ambition to become the global market infrastructure provider of choice,” said Carsten Kengeter, CEO of Deutsche Börse.

At the start of October, the exchange group placed a €500-million senior bond due in 2025, in part to finance the acquisition.

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