Rather than a straightforward acquisition, the deal will be achieved through a merger of CME and GFI and a subsequent spin-off of GFI's wholesale brokerage business to a private consortium of GFI's management.
Following the deal, GFI will continue to operate its wholesale brokerage business as normal, but will establish long-term commercial agreements with CME around market data. For example, Fenics will become a wholly-owned subsidiary of CME, but will continue to act as the sales agent for GFI
Anthony and James look at developments pertaining to the Consolidated Audit Trail and wonder if big-tech companies could challenge traditional asset managers.Subscribe to Weekly Wrap emails
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