Purchase agreement was signed on 19 December. The transaction is expected to close by the end of January 2009, subject to approval of the German competition commission (Bundeskartellamt).
The purchase cost Deutsche Boerse US$10 million in cash. Acquiring US-based financial news agency Market News International (MNI) Deutsche Boerse significantly expands offering in the segment of Market Data & Analytics.
MNI has direct access to news rooms from government agencies and supranational organisations such as the World Bank and the International Monetary Fund. Via MNI’s access to these sources, Deutsche Brse is to expand its real-time information offerings for the financial markets. These information provide the basis for trading decisions to market participants.
Market News International has a staff of 85 employees at 12 locations in Europe, Asia and the United States. Previously company subordinated to Xinhua Finance Ltd, China’s financial information provider.
“The acquisition of MNI is consistent with our growth strategy of adding globally relevant trading data to our real-time data feeds,” says Holger Wohlenberg, managing director of Deutsche Brse Market Data & Analytics. “Market participants pursuing automated trading strategies and quants will benefit from new trading signals for their algorithms.”
L.D.