Deutsche Börse bolts-on foreign exchange platform for €725m

Deutsche Boerse has announced their biggest acquisition to date as they have bought foreign exchange trading platform 360T for 725 million euros.

“Deutsche Boerse made SIX an attractive offer at the end of June 2015 regarding SIX’s shares in Stoxx AG and Indexium AG, and we quickly agreed on a deal that is fair for both parties”, Stefan Mader, group chief financial officer at SIX, said in a statement.

Deutsche Boerse aims to further accelerate 360T’s organic growth trajectory in the Forex market.

Deutsche Boerse said Weekend that it programs to financing the buy of 360T using a directed at decreasing any impact on its credit score, a mixture of collateral and debts.

Exchange operators have been keen to buy equity index businesses to boost revenue as the trend for large investors to track indices through Exchange Traded Funds (ETFs) rather than making choices on individual stocks has grown.

Reuters says that 360T have revolutionised FX trading over the past ten years and the multi-bank, multi-user platform should help Deutsche Boerse bring in the expected millions of revenue in cash earnings. The company also expects a “double-digit million Euro synergies” by midterm with Deutsche Boerse’s expertise and capabilities in global distribution.