CME Group has acquired energy trading platform Trayport, and FX options analytics and pricing suite FENICS from GFI Group for US$655 million, as it continues to expand its reach in Europe.
GFI’s two largest brands will be sold to CME with the exchange acquiring all of the outstanding shares of GFI Group in exchange for $4.55 per share in CME shares.
Alongside that part of the deal, a private consortium of GFI Group management will then acquire GFI Group’s wholesale brokerage and clearing businesses for $165 million in cash.
The wholesale brokerage business, which includes Kyte Group, will continue as a private company with its management and operations largely unchanged.
The deal is expected to close in early 2015.
“Today’s announcement further builds on CME Group’s infrastructure investment in Europe,” the exchange group said in a statement.
The move follows the launch of CME Europe, a platform for FX and commodities trading, along with the European Trade Repository and CME Clearing Europe.
“Overall, we see a number of opportunities with Trayport as we expand our global footprint, including facilitating and servicing Asian energy markets as they emerge,” said CME Group CEO Phupinder Gill.
‘The addition of FENICS will allow our FX futures and options business to more effectively and efficiently integrate and connect with the global OTC FX options marketplace.”