State Street confirms CF Global acquisition
Deal, first revealed by The TRADE in February and expected to close by end-2023, will bump State Street into the ranks of outsourced trading giants such as Northern Trust and UBS.
Deal, first revealed by The TRADE in February and expected to close by end-2023, will bump State Street into the ranks of outsourced trading giants such as Northern Trust and UBS.
Updates as UBS holds analyst call, central banks from around the world issue statements and details of the merger come to light.
Acquisition of Broadway Technology will allow Bloomberg to provide a low latency execution management offering optimised for rates trading and deliver improved innovations in multi-asset software.
Acquisition of the digital asset manager falls in line with Coinbase’s strategy to increase opportunities for institutions to participate in the crypto-economy.
The acquisition adds new capabilities in US equities to TD’s remit; Cowen client base is expected to benefit from TD’s balance sheet and capital markets business.
Euronext says it has withdrawn the offer; Allfunds claims the terms of the proposal were “inadequate”.
The group could withdraw its offer rather than enter into a bidding war, sources close to the deal tell The TRADE.
A deal would place the custodian alongside the likes of Northern Trust and UBS, which both also boast strong custody and outsourced trading units and subsequent synergies.
Upon completion Morgan Stanley IM’s stake in Morgan Stanley Huxian Funds will go from 49% to 100%; move marks a ‘strategic advancement’ in its China footprint.
Counting down the second batch of The TRADE’s most read news stories over the past year, featuring Virtu Financial, Barclays and LSEG’s TORA.