Deutsche Börse has taken a minority stake in Global Markets Exchange (GMEX) Group, the new London-based derivatives exchange set up by Hirander Misra.
Financial details of the transaction were not disclosed but Deutsche Börse said it paid a “single digit million GBP sum” for the stake.
GMEX, which is currently seeking regulatory approval, plans to launch a range of derivatives products covering interest rate swap futures and derivatives indices. It also plans to form business partnerships with emerging markets exchanges enabled by multi-asset technology.
“This investment in GMEX Group highlights our focus on using innovation to support the integrity and safety of the financial markets,” said Andreas Preuss, deputy CEO of Deutsche Börse and CEO of Eurex. “The innovative business model provided by GMEX Group is the type of initiative the end users of the market want to see supported to achieve this objective.”
Last week, GMEX announced it will reveal details about its clearing partner before the end of the year, along with updates on its progress with acquiring regulatory approval.
GMEX is the second new, London-headquartered exchange operator to receive investment from a larger European counterpart this year. In August, Aquis Exchange, which is hoping to launch in November, secured an investment from the Warsaw Stock Exchange, which valued the business at £16.5 million.