Deutsche Börse Completes €725 Million Acquisition of FX Trading Platform 360T
German exchange operator finalizes deal for foreign exchange platform to form “centre of competence.”
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.
The 360T platform will form a new "center of competence" for Deutsche Börse's activities in the FX market. At the start of October the exchange group placed a €500 million ($569 million) senior bond due in 2025, in part to finance the acquisition.
"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," says Carsten Kengeter, CEO of Deutsche Börse. "It is a great strategic fit. The deal underpins our ambition to become the global market infrastructure provider of choice."
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