Tue, Apr 21, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

NYSE Euronext rushes Asian expansion with acquisition of Metabit

Tuesday, August 02, 2011

Stanley Young
Opalesque Industry Update - NYSE Euronext, a cross-border exchange group, announced on Tuesday that it had finalized a deal to acquire Metabit, a Tokyo-based provider of market access products across Asia including Japan. This deal is meant to address growing customer interest and the ever-expanding Asian financial marketplace – and it will allow hedge funds to speed up their investment processes in Asia.

Under the terms of the agreement, Metabit will operate as a product line with NYSE Euronext’s division, NYSE Technologies. NYSE Technologies provides transaction, data and infrastructure services and managed solutions for buy-side, sell-side and exchange communities.

The agreement should be completed by the third quarter of this year. Terms of the acquisition were not immediately available.

Stanley Young, NYSE Technologies’ CEO, commented on the deal, “Metabit’s products are built in Asia for Asia, and this combination fits our strategy, our connectivity business and our customer interests”

The acquisition is expected to provide positive synergy with NYSE Technologies’ operations as Metabit has in-depth experience and understanding of financial markets in Asia. The company is focused in streamlined, low-latency technology solutions that enable industry-leading access to financial markets across Asia. Metabit’s products connect buy-side order flow with sell-side exchange participants and are designed exclusively for low latency direct market access (DMA) and exchange connectivity to markets through-out the continent.

Headquartered in Tokyo and with offices in Australia and Hong Kong, Metabit has established a trading community of more than 140 trading firms in Asia.

Young added that Japan and Asia are priorities for NYSE Euronext, and that he believes “this is absolutely the right time” to invest in the region.

Metabit’ CEI Daniel Bürgin said that the combined skills and expertise of his company and NYSE Technologies could be highly beneficial to delivering innovative solutions to their customers and to accelerate achieving their long-term business goals. As part of the deal, Bürgin will head the NYSE Technologies Asia business and report to Young. Peter Tierney, Managing Director of NYSE Technologies will become the Chief Operating Officer of the combined business in Asia. Bürgin and Tierney will lead the business operations of the merged firms.

NYSE Euronext and its unit NYSE Technologies have been making strides the past few months. Last week, Americas Trading Group selected NYSE Technologies as a primary technology provider for the development and operation of ATG's new electronic trading platform for the Latin American markets. And in June, NYSE Euronext entered into a new venture with EMC Corp. and VMware Inc. that will allow financial institutions direct access to NYSE' services through the fast-growing technology trend known as cloud computing. (See yesterday’s relevant article: Hedge funds embracing cloud computing Source)

Precy Dumlao

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Studies - Fund managers bullish on equities, alternative asset classes, Hedge funds starting to spurn emerging markets, Insurance companies take aggressive approach to hedge funds despite restricted exposure[more]

    Fund managers bullish on equities, alternative asset classes From Benefitnews.co: Asset allocation and risk continue to be the top issues for institutional investors in 2015 and, while nobody is sure what the economy will do in 2015, investment fund managers remain positive about investm

  2. Investing - New hedge fund strategy: Dispute the patent, short the stock, David Einhorn bets on AerCap as leasing company avoids turbulence, Top hedge funds reveal these best investing ideas, Hedge funds bet big on PetSmart price bump, Victory Park Capital increases investment in upstart to $500m[more]

    New hedge fund strategy: Dispute the patent, short the stock From WSJ.com: A well-known hedge-fund manager is taking a novel approach to making money: filing and publicizing patent challenges against pharmaceutical companies while also betting against their shares. Kyle Bass, head of Hay

  3. Tiger Global falls 2.9% in March, down 5.3% in Q1[more]

    From Reuters.com: Investment firm Tiger Global Management, one of the hedge fund industry's most closely watched players, told clients that its hedge fund lost 5.3 percent during the first quarter, an investor said on Wednesday. Much of the decline came in March when the fund lost 2.9 percent,

  4. It’s not just hedge funds—IMF study finds stability risks from ‘vanilla’ funds[more]

    From MarketWatch.com: Leveraged hedge funds and banklike money-market funds are the parts of the asset-management industry most associated with risks to financial stability. But a report from the International Monetary Fund suggests that “plain-vanilla” mutual funds and exchange-traded funds also ca

  5. Hedge funds gain 2.4% in Q1 driven by currency and commodity markets[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted positive results last March to conclude a strong first quarter, with performance driven by strong macro trends in currency and commodity markets, complemented by broad-based gains and positioning in event driven, equity hedge and fixed income-b

 

banner