CME to Buy GFI's Fenics and Trayport Pricing, Trading Tech Businesses


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

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