Fri, Mar 27, 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. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. Other Voices: The role of diversification in CTA portfolios[more]

    2014 brought a resurgence of managed futures strategies, or CTAs, which performed very well as a whole, outperforming all other hedge fund strategies. However, a closer look reveals that there was a wide range of performance, or return dispersion, across managers. The bottom line? Not all CTAs

  4. Neuberger Berman unit buys 20% stake in activist hedge fund Jana Partners for $2bn[more]

    Komfie Manalo, Opalesque Asia: Neuberger Berman’s unit Dyal Capital Partners bought a 20% stake in activist hedge fund firm Jana Partners worth $2bn, WSJ.com reports. The deal comes as activi

  5. Hedge fund launches fall again, $1bn funds found to outperform even smaller hedge funds[more]

    Komfie Manalo, Opalesque Asia: The number of new hedge fund launches fell again in 2014, the third consecutive year of decline, while fund liquidations saw their first drop since 2010, according to the latest HFR Market Microstructure Industry Report released by industry data provider HFR. Acc

 

banner