Thomson Reuters To Buy FX Alliance

As Eva Szalay reported this morning, Thomson Reuters Corp. (TRI) has agreed to buy electronic currencies trading platform FX Alliance Inc. (FX) in a move that will see the two trading platforms merge to create a trading venue where the largest banks in the space will interact with corporate clients and high-frequency traders.

Thomson Reuters will acquire all of FX Alliance for $22 a share in cash and the deal is expected to close in the third quarter of this year.

Thomson Reuters, which also produces news that competes with News Corp.’s Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires, traditionally caters for the interbank currencies market, while FX Alliance provides trading for corporate and other institutional clients. The merging of the two platforms will likely crank up the pressure on competing systems.

Read more

This entry was posted in Articles, Breaking News, Business, Finance, U.S. Economy, World Economy and tagged , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s