Deutsche Boerse To Buy Majority Stake In Fintech Quantitative Brokers

Deutsche Boerse To Buy Majority Stake In Fintech Quantitative Brokers

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Deutsche Boerse To Buy Majority Stake In Fintech Quantitative Brokers

FRANKFURT: Germany’s Deutsche Boerse, on a mission to make acquisitions, stated on Thursday that it will purchase a majority stake in fintech Quantitative Brokers for an undisclosed sum.

The German inventory alternate operator has a 2 billion euro warfare chest for acquisitions and is at present vying to purchase Borsa Italiana.

Quantitative Brokers, which operates in New York, London, Sydney and Chennai, offers execution algorithms and analytics for futures, choices and rate of interest markets. It expects revenues of $25 million this yr.

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Acquisitions will play a “major role” in Deutsche Boerse’s technique replace later this yr, Theodor Weimer, the chief of the inventory alternate operator, has informed shareholders.

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