Like Trayport Ltd.

closed 12/14/2017 via BusinessWire

TMX Group Inc., acquired Trayport Ltd.

synopsis: Intercontinental Exchange, a leading operator of global exchanges and clearing houses and provider of data and listings services, announced it has completed the sale of Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, to TMX Group Limited.
buyer: TMX Group Inc. (TSX:X:$805.93)
TMX Group is an integrated, multi-asset class exchange group. TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. "
target parent: Intercontinental Exchange, Inc.
target: Trayport Ltd.
Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide. It develops, deploys and supports quality, resilient software for trading in multiple asset classes. Trayport’s GlobalVision software is used by the world’s largest trading companies.
price ($mm)
$725
rev ($mm)
$76
EBITDA ($mm)
$40
EV / rev
9.5x
EV / EBITDA
18.3x
announced 11/7/2018 via GlobeNewswire

Virtu Financial LLC, will acquire Investment Technology Group, Inc.

synopsis: Virtu Financial, Inc., a leading financial firm, announced that it has entered into a definitive agreement to acquire Investment Technology Group, a global financial technology company that helps brokers and asset managers improve returns for investors around the world.
buyer: Virtu Financial LLC (VIRT:$1,851.58)
Virtu is a leading financial firm that leverages cutting edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to their clients. As a market maker, Virtu provides deep liquidity that helps to create more efficient markets around the world. "
target: Investment Technology Group, Inc. (ITG:$505.52)
Investment Technology Group is a global financial technology company that helps brokers and asset managers improve returns for investors around the world. They empower traders to reduce the end-to-end cost of implementing investments via liquidity, analytics and workflow technology solutions.
price ($mm)
$1,110
rev ($mm)
$506
EBITDA ($mm)
EV / rev
2.2x
EV / EBITDA
closed 12/11/2015 via BusinessWire

Intercontinental Exchange, Inc., acquired Trayport Ltd.

synopsis: Intercontinental Exchange, the leading global network of exchanges and clearing houses, announced it has completed its acquisition of Trayport. Trayport licenses its technology platform to serve brokers for electronic and hybrid trade execution primarily in the European over-the-counter utility markets.
buyer: Intercontinental Exchange, Inc. (ICE:$5,588.00)
Intercontinental Exchange (NYSE:ICE) operates the leading network of regulated exchanges and clearing houses. ICE’s futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency. "
target parent: BGC Partners L.P.
target: Trayport Ltd.
Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide. It develops, deploys and supports quality, resilient software for trading in multiple asset classes. Trayport’s GlobalVision software is used by the world’s largest trading companies.
price ($mm)
$650
rev ($mm)
$80
EBITDA ($mm)
EV / rev
10.7x
EV / EBITDA
closed 1/26/2015 via Company Press Release

CREALOGIX, acquired MBA Systems

synopsis: CREALOGIX has acquired MBA Systems, a well-established UK fintech brand and leading supplier of innovative web-based solutions and services to the securities and wealth management industries. With this move, CREALOGIX strengthens its presence in the UK market and gains an established customer base of over 30 banks, brokers and wealth managers.
buyer: CREALOGIX (SWX:CLXN:$76.18)
The CREALOGIX Group is a independent Swiss software house and the market leader for Digital Banking in Switzerland. Its focus is on changing customer needs for mobility, security, personalised advice and a comprehensive user experience. "
target: MBA Systems
MBA Systems is a leading UK based supplier of online trading information and transaction systems to many leading brokers, wealth managers and international banks. It supports and hosts systems from its own secure data centre for almost all of its clients.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/6/2014 via BNC Analysis

Solium Capital Inc., acquired Executive Trading Solutions LLC

synopsis: Solium Capital Inc., the leading global provider of software-as-a-service for equity administration, financial reporting and compliance, announced that it has completed the acquisition of Executive Trading Solutions LLC, a premier provider of online technology for the administration, execution and reporting of 10b5-1 trading plans in the US.
buyer: Solium Capital Inc. (TSX:SUM:$104.55)
Solium Capital Inc. provides cloud-enabled services for global equity administration, financial reporting and compliance. Headquartered in Canada, they also have offices in the United States, the United Kingdom, Spain, France and Australia. "
target: Executive Trading Solutions LLC
Executive Trading Solutions LLC is a premier provider of online technology for the administration, execution and reporting of 10b5-1 trading plans in the US through my10b51.com. This service is valuable to brokerage firms, corporate issuers and executives.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/16/2013 via BNC Analysis

Thomson Reuters, acquired Omnesys Technologies Private Limited

synopsis: Thomson Reuters acquired Bangalore-based Omnesys Technologies for an undisclosed amount. Omnesys is an integrated provider of sell-side order management systems (OMS) and high frequency trading solutions for Indian exchange traded instruments.
buyer: Thomson Reuters (TRI:$5,921.00)
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. It combines industry expertise with innovative technology to deliver critical information to leading decision makers. "
target: Omnesys Technologies Private Limited
Omnesys is a leading provider of software for Securities markets worldwide. Omnesys products range from multi-asset, multi venue trading systems, market data and connectivity solutions to buy-side and sell-side firms, consumer oriented trading terminals and websites.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/5/2013 via BNC Analysis

Desjardins Group, will acquire Nexa Technologies, Inc.

synopsis: Desjardins Financial Group will acquire California-based Nexa Technologies, which operates the online brokerage platform Disnat.
buyer: Desjardins Group
Desjardins Financial Group is the largest financial cooperative group in Canada. It offers complete banking services to nearly 6 million members and clients. "
target parent: Technology Crossover Ventures
target: Nexa Technologies, Inc.
Nexa Technologies has been at the forefront of the online brokerage industry since 1999. Specializing in direct access brokerage technology, Nexa provides a complete online brokerage solution including multi-lingual level II, browser based trading and back-office tools.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/3/2011 via PR Newswire

ConvergEx, acquired RickTick

synopsis: ConvergEx Group, a leading technology company, announced that it has completed its acquisition of RealTick® from Barclays Bank PLC. RealTick is a leading global, multi-broker, cross-asset electronic execution platform.
buyer parent: The Bank of New York Mellon
buyer: ConvergEx
ConvergEx is a leading technology company providing products and services to asset managers and financial intermediaries globally. Its products and services span the investment life cycle and center on the development, marketing and servicing of technology-based solutions. "
target parent: Barclays PLC
target: RickTick
RealTick has revolutionized the electronic trading industry with unique, innovative and easy to use trading technology, along with ground breaking market access and liquidity solutions used by brokers, institutions and traders globally for over 25 years.
price ($mm)
$78
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/17/2010 via BNC Analysis

RTN Stealth Software Inc., will acquire Market Guidance Systems, Inc.

synopsis: RTN Stealth Software Inc. acquired of all of the assets of Market Guidance Systems Inc. ("MGS"). Market Guidance Systems, Inc. (MGS) is a privately held R&D company that has developed RTN-Stealth software -a unique, direct access trading decision support platform for active traders.
buyer: RTN Stealth Software Inc. (QATSF:$0.04)
RTN Stealth Software Inc. is engaged in the business of researching, developing and maintaining proprietary algorithmic securities trading systems. The existence of electronic financial markets has allowed the Company to develop a suite of proprietary intra-day algorithmic trading software. "
target: Market Guidance Systems, Inc.
Market Guidance Systems, Inc. develops securities market analysis and trading software solutions. The company was founded in 2002 and is based in New York, New York.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/1/2008 via PR Newswire

GFI, acquired Trayport Ltd.

synopsis: GFI Group Inc. has acquired Trayport, a leading provider of real-time electronic trading software for brokers, exchanges and traders in the commodities, fixed income, currencies and equities markets.
buyer: GFI (OTCPK:GFIG:$751.64)
GFI Group Inc. is an inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI provides brokerage services, market data and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments. "
target: Trayport Ltd.
Trayport Limited develops real-time electronic trading software for brokers, exchanges, and traders in the United Kingdom and internationally. It offers GlobalVision, a real-time electronic trading platform that connects buyers to sellers in real time.
price ($mm)
$142
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/4/2007 via finextra.com

Markit Group Ltd., will acquire SwapsWire

synopsis: UK market data vendor Markit has agreed in principle to acquire SwapsWire, the dealer-backed electronic trade confirmation network for OTC derivatives processing. Financial terms of the deal were not disclosed.
buyer: Markit Group Ltd. (MRKT:$1,129.70)
Markit Group Limited is the leading provider of independent pricing, reference data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. "
target: SwapsWire
SwapsWire automates the legal confirmation, trade capture, and broker confirmation process for OTC derivatives products. The company offers electronic network to support trade workflow of various types, overnight index swaps, caps, floors, swaptions, credit default swaps, and equity derivatives.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/18/2007 via

Interactive Brokers Group, acquired FutureTrade

synopsis: Interactive Brokers Group, a major automated global electronic broker today announced the execution of a Definitive Agreement to acquire FutureTrade Technologies and its wholly-owned subsidiary, FutureTrade Securities for an undisclosed amount of cash. FutureTrade is a leading provider of integrated electronic equity and option trading services.
buyer: Interactive Brokers Group (IBKR:$1,045.51)
Interactive Brokers Group, Inc., with its subsidiaries, is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, futures and foreign exchange instruments as a member of 70 electronic exchanges and trading venues. "
target: FutureTrade
FutureTrade Technologies, Inc. provides integrated electronic trading platform. The company’s platform enables institutional traders and hedge fund managers to analyze, execute, and manage positions in the United States and international equities and domestic options.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/31/2007 via

Investment Technology Group, Inc., acquired RedSky Financial, LLC

synopsis: Investment Technology Group, Inc. a provider of technology-based trading services and transaction research, has entered into a definitive agreement to acquire privately-held RedSky Financial, LLC, a Chicago-based broker-dealer specializing in electronic multi-asset class trading with an emphasis on exchange-traded equity derivative products.
buyer: Investment Technology Group, Inc. (ITG:$505.52)
Investment Technology Group, Inc. is a specialized agency brokerage and technology firm that partners with clients globally to provide innovative solutions spanning the entire investment process. "
target: RedSky Financial, LLC
RedSky Financial is a broker-dealer and FCM specializing in electronic trading within multiple asset classes. RedSky provides traders, hedge funds, and proprietary trading groups with direct access to stocks, options, futures, foreign exchange and bonds through its proprietary R3 trading platform.
price ($mm)
$22
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/30/2007 via BusinessWire

eSpeed, Inc. will be merged with BGC Partners L.P.,

synopsis: eSpeed, Inc., a leader in electronic marketplaces and related trading technology for the global capital markets, and BGC Partners, one of the largest and fastest growing inter-dealer brokers of financial instruments for wholesale market participants worldwide, announced eSpeed and BGC will merge, and the combined company named “BGC Partners, Inc.”
buyer: BGC Partners L.P. (BGCP:$2,554.99)
BGC Partners L.P. is a leading inter-dealer broker providing integrated voice and electronic services to wholesale market participants worldwide. BGC is active in the global credit, fixed income, foreign exchange, derivatives and money markets, offering a full range of brokerage services. "
target: eSpeed, Inc. (ESPD:$1,117.64)
eSpeed, Inc. is a leader in developing and deploying electronic marketplaces and related trading technology that offers traders access to the most liquid, efficient and neutral financial markets in the world. eSpeed operates multiple buyer, multiple seller real-time electronic marketplaces.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/21/2007 via Company Press Release

ODL Securities, purchased bestconnect from Dresdner Kleinwort Capital

synopsis: ODL Securities, the London-based equities, derivatives and FX trading house, has agreed the purchase of bestconnect, the leading UK retail service provider (RSP) electronic dealing service, from investment bank Dresdner Kleinwort.
buyer: ODL Securities
ODL Securities Limited (ODLS) commenced trading early in 1995. Initially it specialised in derivatives and equities but recently has seen significant growth in foreign exchange, equity CFDs, Corporate and Government bond trading and other over-the-counter (OTC) products. "
seller parent: Allianz Group
seller: Dresdner Kleinwort Capital
At Dresdner Kleinwort, we deliver the best solutions for our clients by creating a culture to think differently, to question convention, and - sometimes - make choices that surprise our peers. We are the investment bank of Dresdner Bank AG and a member of Allianz.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/4/2007 via Company Press Release

TietoEnator Corporation, acquired Abaris AB

synopsis: TietoEnator has strengthened its position in the Nordic capital markets area by the acquisition of the entire share capital of the Swedish company Abaris, a specialist in securities processing solutions. Abaris has a strong position in the Swedish as well as the Finnish and Norwegian market.
buyer: TietoEnator Corporation (TIE1V:$358.50)
TietoEnator is among the leading architects in building a more efficient information society and one of the largest IT services providers in Europe. TietoEnator specializes in consulting, developing and hosting its customers' business operations in the digital economy. "
target: Abaris AB
Abaris AB provides software solutions and related services for the buy-side and sell-side investment community. It supports capital market business processes in the areas of securities trading, account administration, fund management, and private banking.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/13/2006 via BusinessWire

E*TRADE Professional Trading, LLC, acquired E*TRADE Professional Trading, LLC

synopsis: Lightspeed Holdings, LLC, a leading independent provider of brokerage services for institutional and professional traders, today announced it has completed the acquisition of E*TRADE Professional Trading, LLC and ETP Technologies, LLC from E*TRADE FINANCIAL Corporation.
buyer: E*TRADE Professional Trading, LLC
Lightspeed Professional Trading, LLC is a Direct Market Access trading and trading technology development business. Formerly E*TRADE Professional Trading, LLC, the firm was acquired by the current management team in a management buyout from E*TRADE Financial in 2006. "
target parent: E-Trade Financial Corp.
target: E*TRADE Professional Trading, LLC
Lightspeed Professional Trading, LLC is a Direct Market Access trading and trading technology development business. Formerly E*TRADE Professional Trading, LLC, the firm was acquired by the current management team in a management buyout from E*TRADE Financial in 2006.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/21/2005 via BNC Analysis

Lehman Brothers, acquired Townsend Analytics, Ltd.

synopsis: Lehman Brothers, the global investment bank, announced today that it has acquired Townsend Analytics, a premier software development and global service provider for the financial services industry.
buyer: Lehman Brothers (LEH:$0.00)
Lehman Brothers, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high net worth individuals worldwide. "
target: Townsend Analytics, Ltd.
Townsend Analytics is a recognized software development and service provider for the financial services industry, Townsend Analytics provides tools and support services for both institutional and retail brokerage firms.
price ($mm)
rev ($mm)
$15
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 12/20/2005 via PR Newswire

thinkorswim Group, Inc., acquired Arrowhead Solutions, Inc.

synopsis: thinkorswim, an industry-leading online brokerage and financial technology pioneer, announced the acquisition of Arrowhead Solutions, an institutional equity order management and technology company.
buyer parent: INVESTools, Inc.
buyer: thinkorswim Group, Inc. (:$371.80)
thinkorswim is a leading online brokerage company specializing in options that also offers customers a broad range of products including equities, futures, mutual funds, and bonds. "
target: Arrowhead Solutions, Inc.
Arrowhead was founded by two pioneers in the trade order management field who helped develop one of the leading systems used today. Arrowhead’s professionals offer unsurpassed investment and trading system knowledge.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/17/2005 via BusinessWire

FundTech Ltd., will acquire Radius Partners

synopsis: Fundtech Ltd., a leading provider of end-to-end corporate banking and securities processing software and services, today announced the signing of a definitive agreement to acquire Radius Partners, a leading provider of straight through processing (STP) solutions to the global securities industry, located in Pembroke, Massachusetts.
buyer: FundTech Ltd. (FNDT:$141.94)
Fundtech is a leading provider of software solutions and services that facilitate payments, settlement and cash management by enabling businesses and their banks to electronically manage cash, process payments and transfer funds. "
target: Radius Partners
Radius Partners provides software solutions and services that facilitate the matching and settlement of institutional trades. The Company was founded in 2000 by Chris Walsh and Scott Lorimer.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/12/2021 via Company Press Release

Trayport Ltd., will acquire Tradesignal GmbH

synopsis: UK-based Trayport Limited, a wholly-owned subsidiary of TMX Group, will acquire Tradesignal, a leading German provider of rule-based energy trading and analysis solutions. Tradesignal provides traders, portfolio managers, and analysts the capabilities to develop, test, and optimise multiple trading strategies.
buyer parent: TMX Group Inc.
buyer: Trayport Ltd.
Based in the UK, Trayport is the primary network and platform for European wholesale energy markets. Its solutions are used worldwide by traders, brokers, and exchanges in multiple asset classes across OTC and cleared markets. "
target: Tradesignal GmbH
Based in Bremen, Germany, Tradesignal is one of the leading software solutions providers for the international financial and energy market. The company is highly regarded for its development of software solutions for rule-based trading and technical chart analysis.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/22/2019 via Company Press Release

Trayport Ltd., will acquire VisoTech

synopsis: Trayport Limited, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, will acquire VisoTech, a leading fully automated power and gas trading and energy technology platform in Europe. VisoTech provides energy and trading companies with an effective one-stop-shop platform that supports their entire value chain.
buyer parent: TMX Group Inc.
buyer: Trayport Ltd.
Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide. It develops, deploys and supports quality, resilient software for trading in multiple asset classes. Trayport’s GlobalVision software is used by the world’s largest trading companies. "
target: VisoTech
Founded in 1999, VisoTech is a leading fully automated power and gas trading and energy technology platform in Europe. VisoTech provides energy and trading companies with an effective one-stop-shop platform that supports their entire value chain.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/14/2017 via BusinessWire

TMX Group Inc., acquired Trayport Ltd.

synopsis: Intercontinental Exchange, a leading operator of global exchanges and clearing houses and provider of data and listings services, announced it has completed the sale of Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, to TMX Group Limited.
buyer: TMX Group Inc. (TSX:X:$805.93)
TMX Group is an integrated, multi-asset class exchange group. TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. "
target parent: Intercontinental Exchange, Inc.
target: Trayport Ltd.
Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide. It develops, deploys and supports quality, resilient software for trading in multiple asset classes. Trayport’s GlobalVision software is used by the world’s largest trading companies.
price ($mm)
$725
rev ($mm)
$76
EBITDA ($mm)
$40
EV / rev
9.5x
EV / EBITDA
18.3x
closed 12/11/2015 via BusinessWire

Intercontinental Exchange, Inc., acquired Trayport Ltd.

synopsis: Intercontinental Exchange, the leading global network of exchanges and clearing houses, announced it has completed its acquisition of Trayport. Trayport licenses its technology platform to serve brokers for electronic and hybrid trade execution primarily in the European over-the-counter utility markets.
buyer: Intercontinental Exchange, Inc. (ICE:$5,588.00)
Intercontinental Exchange (NYSE:ICE) operates the leading network of regulated exchanges and clearing houses. ICE’s futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency. "
target parent: BGC Partners L.P.
target: Trayport Ltd.
Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide. It develops, deploys and supports quality, resilient software for trading in multiple asset classes. Trayport’s GlobalVision software is used by the world’s largest trading companies.
price ($mm)
$650
rev ($mm)
$80
EBITDA ($mm)
EV / rev
10.7x
EV / EBITDA
closed 11/18/2013 via Company Press Release

Trayport Ltd., acquired Contigo Ltd.

synopsis: Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, announced that it had acquired Contigo Ltd, a provider of energy trading risk management (ETRM) services. The company also provides logistics supply chain management and emissions reporting software to the energy industry.
buyer parent: GFI Group
buyer: Trayport Ltd.
Trayport Limited develops real-time electronic trading software for brokers, exchanges, and traders in the United Kingdom and internationally. It offers GlobalVision, a real-time electronic trading platform that connects buyers to sellers in real time. "
target parent: Banco Santander, S.A.
target: Contigo Ltd.
Contigo is the leading provider of energy trading, portfolio risk management (ETRM) solutions, and logistics supply chain management and emissions reporting software to the energy industry. The company is based in Solihull, UK.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/1/2008 via PR Newswire

GFI, acquired Trayport Ltd.

synopsis: GFI Group Inc. has acquired Trayport, a leading provider of real-time electronic trading software for brokers, exchanges and traders in the commodities, fixed income, currencies and equities markets.
buyer: GFI (OTCPK:GFIG:$751.64)
GFI Group Inc. is an inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI provides brokerage services, market data and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments. "
target: Trayport Ltd.
Trayport Limited develops real-time electronic trading software for brokers, exchanges, and traders in the United Kingdom and internationally. It offers GlobalVision, a real-time electronic trading platform that connects buyers to sellers in real time.
price ($mm)
$142
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/12/2021 via Company Press Release

Trayport Ltd., will acquire Tradesignal GmbH

synopsis: UK-based Trayport Limited, a wholly-owned subsidiary of TMX Group, will acquire Tradesignal, a leading German provider of rule-based energy trading and analysis solutions. Tradesignal provides traders, portfolio managers, and analysts the capabilities to develop, test, and optimise multiple trading strategies.
buyer parent: TMX Group Inc.
buyer: Trayport Ltd.
Based in the UK, Trayport is the primary network and platform for European wholesale energy markets. Its solutions are used worldwide by traders, brokers, and exchanges in multiple asset classes across OTC and cleared markets. "
target: Tradesignal GmbH
Based in Bremen, Germany, Tradesignal is one of the leading software solutions providers for the international financial and energy market. The company is highly regarded for its development of software solutions for rule-based trading and technical chart analysis.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/22/2019 via Company Press Release

Trayport Ltd., will acquire VisoTech

synopsis: Trayport Limited, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, will acquire VisoTech, a leading fully automated power and gas trading and energy technology platform in Europe. VisoTech provides energy and trading companies with an effective one-stop-shop platform that supports their entire value chain.
buyer parent: TMX Group Inc.
buyer: Trayport Ltd.
Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide. It develops, deploys and supports quality, resilient software for trading in multiple asset classes. Trayport’s GlobalVision software is used by the world’s largest trading companies. "
target: VisoTech
Founded in 1999, VisoTech is a leading fully automated power and gas trading and energy technology platform in Europe. VisoTech provides energy and trading companies with an effective one-stop-shop platform that supports their entire value chain.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/14/2017 via BusinessWire

TMX Group Inc., acquired Trayport Ltd.

synopsis: Intercontinental Exchange, a leading operator of global exchanges and clearing houses and provider of data and listings services, announced it has completed the sale of Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, to TMX Group Limited.
buyer: TMX Group Inc. (TSX:X:$805.93)
TMX Group is an integrated, multi-asset class exchange group. TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. "
target parent: Intercontinental Exchange, Inc.
target: Trayport Ltd.
Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide. It develops, deploys and supports quality, resilient software for trading in multiple asset classes. Trayport’s GlobalVision software is used by the world’s largest trading companies.
price ($mm)
$725
rev ($mm)
$76
EBITDA ($mm)
$40
EV / rev
9.5x
EV / EBITDA
18.3x
announced 2/15/2017 via BusinessWire

Intercontinental Exchange, Inc., will acquire TMX Atrium

synopsis: Intercontinental Exchange, a leading operator of global exchanges and clearing houses and provider of data and listings services, announced it has entered an agreement to acquire TMX Atrium, a global extranet and wireless services business from TMX Group.
buyer: Intercontinental Exchange, Inc. (ICE:$5,588.00)
Intercontinental Exchange operates the leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. ICE’s futures exchanges and clearing houses serve global commodity and financial markets. "
target parent: TMX Group Inc.
target: TMX Atrium
TMX Atrium provides Internet protocol-based network connectivity solutions to the financial services community in Europe, North America, and South America. It offers financial community with connectivity between multiple markets and trading venues.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/31/2016 via finextra.com

Parabellum Capital, acquired Razor Risk Technologies Limited

synopsis: TMX Group announced the sale of risk management business Razor Risk to UK-based Parabellum Limited. TMX Group has undertaken a transformative initiative to streamline the organization, enhance client services and achieve a more efficient cost structure.
buyer: Parabellum Capital
Parabellum seeks to generate attractive risk-adjusted returns by targeting investments in companies that have an opportunity for significant value creation post-investment through strategic and operational improvements. "
target parent: TMX Group Inc.
target: Razor Risk Technologies Limited (AU:RZR:$9.62)
Razor Risk Technologies provides risk management technologies and consulting solutions to financial institutions worldwide. It assists financial services institutions to measure and control risk through its enterprise risk management framework, Razor.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/14/2015 via PR Newswire

NATIONAL Public Relations Inc., acquired TMX Equicom

synopsis: NATIONAL Public Relations, Canada's leading public relations firm and one of the world's leading independent communications firms, announced the acquisition of the business of Equicom from TMX Group. Equicom is Canada's leading investor relations and financial communications firm.
buyer parent: RES PUBLICA Consulting Group Inc.
buyer: NATIONAL Public Relations Inc.
NATIONAL Public Relations serves corporate and institutional clients, offering a full range of strategic communications services, including corporate communications, investor relations, public affairs, stakeholder engagement, marketing, healthcare and digital communications. "
target parent: TMX Group Inc.
target: TMX Equicom
TMX Equicom is Canada’s leading provider of investor relations and strategic corporate communications. They have been working with Canadian public issuers to build their profiles within the investment community since 1996.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 11/30/2011 via BNC Analysis

TMX Group Inc., will acquire Razor Risk Technologies Limited

synopsis: Canadian exchange operator TMX Group has agreed to buy Australia's Razor Risk Technologies, a provider of risk management technologies and consulting solutions to financial institutions worldwide. The company's award-winning Razor risk management framework was officially launched in 2002.
buyer: TMX Group Inc. (TSX:X:$805.93)
TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. TMX Group companies provide listing markets, trading markets, clearing facilities, data products and other services to the global financial community. "
target: Razor Risk Technologies Limited (AU:RZR:$9.62)
Razor Risk Technologies provides risk management technologies and consulting solutions to financial institutions worldwide. It assists financial services institutions to measure and control risk through its enterprise risk management framework, Razor.
price ($mm)[EV]
$10 [$8]
rev ($mm)
$9
EBITDA ($mm)
$0
EV / rev
1.0x
EV / EBITDA
54.8x
closed 8/3/2011 via Company Press Release

TMX Datalinx, acquired Atrium Network

synopsis: TMX Group Inc., Canada's leading operator of exchanges and related services, announced that it has acquired Atrium Network, a leading provider of high availability, cost effective, low latency network solutions in Europe and North America. Atrium Network, which will be rebranded TMX Atrium, will operate as a unit of TMX Datalinx.
buyer parent: TMX Group Inc.
buyer: TMX Datalinx
TMX Datalinx™ is TMX Group's information services division. The company provides real-time, historical and index data to Canadian and international market participants. It also provides corporate information, news, and foreign exchange data to investors. "
target: Atrium Network
Atrium Network provides smarter connectivity solutions for the financial community. Atrium Network provides client and industry connectivity via its extranet services, dealer desk trading technology and corporate technology.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/1/2009 via Yahoo, Inc.

TMX Group Inc., acquired NetThruPut Inc.

synopsis: TMX Group Inc. announced that it has completed the acquisition of NetThruPut Inc. (NTP) from Enbridge Inc. and Circuit Technology Limited. NTP is a leading Canadian electronic platform and clearing facility for physical crude oil products.
buyer: TMX Group Inc. (TSX:X:$805.93)
TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. "
target parent: Enbridge Inc.
target: NetThruPut Inc.
NetThruPut Inc. (NTP) is a leading Canadian Internet-based trading and clearing facility for physical crude oil products.
price ($mm)
$47
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/31/2017 via BusinessWire

NYSE, acquired National Stock Exchange

synopsis: The New York Stock Exchange (NYSE), part of Intercontinental Exchange, announced that it completed its acquisition of the National Stock Exchange, Inc. (NSX), now renamed NYSE National, Inc. The National Stock Exchange, headquartered in Jersey City, NJ, offers trading in all US exchange-listed equities on its NSX BLADE® trading platform.
buyer parent: Intercontinental Exchange, Inc.
buyer: NYSE (NYX:$3,749.00)
NYSE Group is a subsidiary of Intercontinental Exchange, a leading operator of global exchanges and clearing houses, and a provider of data and listings services. NYSE Group includes exchanges, market data and connectivity services. "
target parent: CBOE Holdings, Inc.
target: National Stock Exchange
The National Stock Exchange (NSX), headquartered in Jersey City, NJ, offers trading in all US exchange-listed equities on its NSX BLADE® trading platform. Originally founded as the Cincinnati Stock Exchange, NSX became the first all-electronic exchange in the U.S. in 1980.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/28/2017 via PR Newswire

CBOE Holdings, Inc., acquired BATS Global Markets, Inc.

synopsis: CBOE, the largest U.S. options exchange and creator of listed options, has completed its acquisition of Bats Global Markets, the second-largest stock exchange operator in the U.S. Bats also operates the largest stock exchange and trade reporting facility in Europe, and the #1 market globally for ETP trading.
buyer: CBOE Holdings, Inc. (CBOE:$3,181.50)
CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE), the CBOE Futures Exchange (CFE) and other subsidiaries. CBOE is the largest U.S. options exchange and creator of listed options. "
target: BATS Global Markets, Inc. (BATS:$1,861.90)
BATS Global Markets, Inc. is a leading global operator of securities markets, committed to Making Markets Better for traders, investors and issuers. In the U.S., BATS operates four stock exchanges – BZX, BYX, EDGX and EDGA – and regularly ranks as the top market for ETF and retail-driven liquidity.
price ($mm)[EV]
$3,168 [$3,620]
rev ($mm)
$1,912
EBITDA ($mm)
$279
EV / rev
1.9x
EV / EBITDA
13.1x
cancelled 3/29/2017 via BNC Analysis

London Stock Exchange Group plc cancelled merger with Deutsche Börse Group,

synopsis: The merger between the London Stock Exchange and its German rival Deutsche Börse has fallen apart after it was blocked by the European commission on the day that Britain served notice on its EU membership.
buyer: Deutsche Börse Group (XTRA:DB1:$4,444.63)
Deutsche Börse Group is one of the largest exchange organisations worldwide. It organises markets characterised by integrity, transparency and safety for investors who invest capital and for companies that raise capital. "
target: London Stock Exchange Group plc (LSE:LSE:$3,186.38)
London Stock Exchange is the world’s most international exchange. Nearly 2,500 companies from more than 90 countries are quoted across its markets, with a combined value of £4.4 trillion.
price ($mm)[EV]
$13,067 [$14,677]
rev ($mm)
$2,154
EBITDA ($mm)
$910
EV / rev
6.8x
EV / EBITDA
16.1x
closed 2/3/2014 via BusinessWeek

IntercontinentalExchange, acquired Singapore Mercantile Exchange

synopsis: IntercontinentalExchange Group, the leading global network of exchanges and clearing houses, announced the successful completion of its previously announced acquisition of Singapore Mercantile Exchange (SMX). SMX offers a comprehensive platform for trading a diversified basket of commodities.
buyer: IntercontinentalExchange (ICE:$5,588.00)
IntercontinentalExchange (ICE) operates the leading global, electronic marketplace for trading both futures and OTC energy contracts. ICE offers a range of contracts based on crude oil and refined products, natural gas, power and emissions. "
target: Singapore Mercantile Exchange
Singapore Mercantile Exchange(SMX) is the first pan-Asian multi-product commodity and currency derivatives exchange. SMX offers a comprehensive platform for trading a diversified basket of commodities including futures and options contracts on metals, agriculture commodities, energy, and currencies.
price ($mm)
$150
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/12/2013 via Reuters

IntercontinentalExchange, acquired NYSE Euronext

synopsis: IntercontinentalExchange Inc's takeover of NYSE Euronext is complete and stock of the combined company will begin trading under the symbol ICE. ICE also plans to spin off Euronext, which includes the Paris, Amsterdam, Brussels and Lisbon stock exchanges, in an IPO likely some time next year.
buyer: IntercontinentalExchange (ICE:$5,588.00)
IntercontinentalExchange (ICE) operates the leading global, electronic marketplace for trading both futures and OTC energy contracts. ICE offers a range of contracts based on crude oil and refined products, natural gas, power and emissions. "
target: NYSE Euronext (NYX:$3,749.00)
NYSE Euronext is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products.
price ($mm)[EV]
$8,034 [$10,175]
rev ($mm)
$3,584
EBITDA ($mm)
$923
EV / rev
2.9x
EV / EBITDA
11.4x
closed 12/19/2011 via PR Newswire

RTS Exchange merged with MICEX,

synopsis: MICEX and RTS Exchange have merged, creating a single Russian exchange that is well-positioned to become a leading venue globally for trading across asset classes. The merger creates a one-stop-shop for local and international market participants to trade equities, bonds, derivatives and currencies.
buyer: MICEX
The MICEX Group is the largest exchange in Russia, the CIS countries, and Central and Eastern Europe. It is an integrated exchange structure that provides electronic trade organization, clearing and settlements on trades, and depository and information services. "
target: RTS Exchange
Established in 1995 as the first regulated stock market in Russia, RTS Stock Exchange trades the full range of financial instruments from cash equities to commodity futures. The RTS Index has become the main benchmark for the Russian securities industry.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 11/18/2011 via Reuters

Osaka Securities Exchange will be merged with The Tokyo Stock Exchange,

synopsis: The Tokyo Stock Exchange and Osaka Securities Exchange Co Ltd have made a final decision to merge their operations and create the world's third-largest securities bourse. Under the plan, the unlisted Tokyo bourse will first take a stake of up to a two-thirds in the smaller but listed Osaka exchange.
buyer: The Tokyo Stock Exchange
Tokyo Stock Exchange Group, Inc. provides a securities market that supports the fund management and capital raising activities for users in Japan and internationally. It offers market information, including indices, market data, statistics, and listed company information. "
target: Osaka Securities Exchange (OSCUF:$22,492.00)
Osaka Securities Exchange Co., Ltd. provides marketplace for transactions of equities, stock index futures, stock index options, and security options contracts in Japan.
price ($mm)[EV]
$1,123 [$771]*
rev ($mm)
$283
EBITDA ($mm)
$148
EV / rev
4.7x
EV / EBITDA
9.0x
announced 9/29/2011 via PR Newswire

CBOE Stock Exchange, LLC, will acquire National Stock Exchange

synopsis: CBOE Stock Exchange (CBSX) has entered into a definitive agreement to acquire the National Stock Exchange, Inc. (NSX), an all-electronic stock exchange which is owned primarily by several nationally-known broker-dealers. Plans call for CBSX to operate NSX as a separate exchange, while consolidating data systems and business operations.
buyer parent: CBOE Holdings, Inc
buyer: CBOE Stock Exchange, LLC
The all-electronic CBOE Stock Exchange, LLC, created in 2007 by the Chicago Board Options Exchange and four market-maker partners, offers trading in more than 7,600 equities and exchange traded funds listed on U.S. securities markets. "
target: National Stock Exchange
The National Stock Exchange (NSX), headquartered in Jersey City, NJ, offers trading in all US exchange-listed equities on its NSX BLADE® trading platform. Originally founded as the Cincinnati Stock Exchange, NSX became the first all-electronic exchange in the U.S. in 1980.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/1/2011 via BusinessWire

Chi-X Europe Limited merged with BATS Global Markets, Inc.,

synopsis: BATS Global Markets (BATS) announced the completion of the Chi-X Europe acquisition. Chi-X Europe operates the largest pan-European equity multilateral trading facility (MTF). BATS intends to combine the BATS Europe and Chi-X Europe MTFs, which will be known as BATS Chi-X Europe.
buyer: BATS Global Markets, Inc. (BATS:$1,861.90)
BATS Global Markets (BATS) is an innovative global financial markets technology company based in the Kansas City, MO. The BATS trading platforms are internally developed by a dedicated team of market and technology professionals with BATS Exchange (BZX), the third-largest US securities exchange. "
target parent: Nomura Holdings, Inc.
target: Chi-X Europe Limited
Chi-X Europe operates a multilateral trading facility for the trading of more than 1,300 of the most liquid securities across 25 indices and 15 major European markets, as well as exchange traded funds, exchange traded commodities and international depositary receipts.
price ($mm)
$300
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
cancelled 2/2/2012 via BusinessWire

NYSE Euronext cancelled merger with Deutsche Börse Group,

synopsis: NYSE Euronext announced that in light of the decision by the European Commission to block the proposed merger agreement, both companies have agreed to a mutual termination of the business combination agreement originally signed by the Companies on February 15, 2011.
buyer: Deutsche Börse Group (XTRA:DB1:$4,444.63)
As one of the world’s leading exchange organizations, Deutsche Börse Group provides investors, financial institutions and companies access to global capital markets. "
target: NYSE Euronext (NYX:$3,749.00)
NYSE Euronext is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products.
price ($mm)[EV]
$10,252 [$12,385]
rev ($mm)
$4,172
EBITDA ($mm)
$1,071
EV / rev
3.0x
EV / EBITDA
11.6x
announced 12/21/2009 via Company Press Release

Turquoise will be merged with Baikal Global, Ltd.,

synopsis: London Stock Exchange Group plc (LSEG) and Turquoise Trading Limited (Turquoise) announced their agreement to create a new pan-European trading venture through a merger of the businesses of Turquoise and Baikal Global Limited (Baikal).
buyer parent: London Stock Exchange Group plc
buyer: Baikal Global, Ltd.
Baikal, part of the London Stock Exchange Group, will be a pan-European Multilateral Trading Facility (MTF) complemented by a Liquidity Aggregation Service which seeks out liquidity in over 20 venues across 14 countries. "
target: Turquoise
Turquoise provides electronic execution services to buyers and sellers of pan-European equities, delivering differentiated value throughout the trading process.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 4/8/2009 via Company Press Release

New Zealand Exchange Limited, will acquire The Marketplace Company, Ltd.

synopsis: NZX has agreed to a conditional term sheet for the acquisition of assets of The Marketplace Company. M-co designs, develops and operates markets for electricity, electricity derivatives, gas and carbon. NZX's proposed acquisition includes the energy business, gas business and M-co's software and trading platforms including EnergyHedge and Regi.
buyer: New Zealand Exchange Limited (NZE:NZX:$44.56)
The NZX Capital Markets (New Zealand Exchange Limited) form a diverse offering for companies wishing to raise growth capital and investors looking for secure and liquid investment opportunities. "
target: The Marketplace Company, Ltd.
M-co designs, develops and operates markets for electricity, electricity derivatives, gas and carbon. NZX's proposed acquisition includes the energy business, gas business and M-co's software and trading platforms including EnergyHedge (for electricity derivatives) and Regi (a carbon registry).
price ($mm)
$7.57
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/18/2009 via PR Newswire

GAIN Capital, acquired Fortune Capital Co., Ltd.

synopsis: GAIN Capital Holdings Inc., a global provider of online foreign exchange trading services, announced that it has acquired a controlling stake in Fortune Capital Co. Ltd, a privately-owned provider of forex trading services in Japan.
buyer: GAIN Capital (GCAP:$213.30)
GAIN Capital is a market leader in the rapidly growing online foreign exchange industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume in excess of $200 billion per month with its customers and counterparties. "
target: Fortune Capital Co., Ltd.
Founded in 2002, Fortune Capital provides online foreign exchange trading services in Japan. Fortune Capital offers FX traders the highest possible level of price transparency via real time streaming quotes, and a speed of execution that's unmatched in the marketplace.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/14/2008 via PR Newswire

NYSE Euronext, will purchase Metals Complex from CME Group

synopsis: NYSE Euronext, the world's leading and most liquid exchange group, and CME Group, the world's largest and most diverse derivatives exchange, today announced that NYSE Euronext will purchase the CME Group's Metals Complex.
buyer: NYSE Euronext (NYX:$3,749.00)
NYSE Euronext operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. "
seller: CME Group (CME:$4,593.10)
CME Group is the leading equity index derivatives marketplace, offering futures and options on key benchmark indexes that cover the spectrum of small-, medium- and large-cap indexes in the U.S., Europe and Asia.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 2/27/2008 via Company Press Release

Singapore Stock Exchange, will acquire Singapore Commodity Exchange

synopsis: Singapore Exchange Limited and Singapore Commodity Exchange Limited announced today that they have agreed in-principle to SGX acquiring at least 95% of SICOM, through the subscription of shares, for a total investment of S$7.5 million.
buyer: Singapore Stock Exchange (SGX:S68:$733.19)
Singapore Exchange Limited (SGX) is Asia-Pacific's first demutualised and integrated securities and derivatives exchange. SGX was inaugurated on 1 December 1999, following the merger of the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX). "
target: Singapore Commodity Exchange
Singapore Commodity Exchange provides a centralised and regulated marketplace for commodity futures to be traded in Singapore. This paves the way for Singapore to become a commodity futures trading centre complementing its international trading activities.
price ($mm)
$7.50*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/25/2007 via finextra.com

Börse Berlin, acquired Equiduct

synopsis: Börse Berlin has acquired an undisclosed majority stake in Equiduct, the MiFID-ready pan-European trading platform. Börse Berlin says the aim of the transaction is to take advantage of the opportunities provided by the introduction of MiFID in November.
buyer: Börse Berlin
The stock exchange Berlin AG is the carrier company of the Skontroführerhandels of the stock exchange Berlin. "
target: Equiduct
Equiduct will be a pan-European Regulated Market and has been created to address the sweeping changes being introduced by the Markets in Financial Instruments Directive with respect to European equities impacting all European investment firms from November 2007.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/28/2007 via PR Newswire

IntercontinentalExchange, acquired Winnipeg Commodity Exchange

synopsis: IntercontinentalExchange, Inc., the leading electronic energy marketplace and soft commodity exchange, and WCE Holdings Inc., parent of the Winnipeg Commodity Exchange Inc., jointly announced the closing of ICE's acquisition of WCE Holdings. WCE is the leading agricultural commodity futures and options exchange in Canada.
buyer: IntercontinentalExchange (ICE:$5,588.00)
IntercontinentalExchange operates the leading global, electronic marketplace for trading both futures and OTC energy contracts. ICE offers a range of contracts based on crude oil and refined products, natural gas, power and emissions. "
target: Winnipeg Commodity Exchange
Winnipeg Commodity Exchange Inc., established in 1887, has been facilitating futures contract trading since 1904. WCE is Canada's only agricultural futures and options exchange and North America's first fully electronic commodity exchange. WCE offers futures and options contracts.
price ($mm)
$54
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/18/2005 via

Borsa Italiana S.p.A., acquired MTS S.p.A.

synopsis: NYSE Euronext and Borsa Italiana have signed an agreement regarding MBE Holding, their joint venture that owns 60.37% of Società per il Mercato dei Titoli di Stato S.p.A., and MTSNext. Under the terms of the agreement, NYSE Euronext’s 51% stake in MBE Holding and 33% stake in MTSNext are valued at €100 million .
buyer: Borsa Italiana S.p.A.
Borsa Italiana S.p.A. is responsible for the organisation and management of the Italian stock exchange. The Borsa Italiana's primary objective is to ensure the development of the managed markets, maximising their liquidity, transparency and competitiveness. "
target parent: NYSE Euronext
target: MTS S.p.A.
MTS S.p.A., founded in 1988 and privatised in 1997, was the first electronic market for government bonds. MTS S.p.A., a regulated Exchange, provides wholesale electronic trading of Italian government bonds and other types of fixed income securities.
price ($mm)
$153*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/1/2008 via BusinessWire

NYSE Euronext, acquired American Stock Exchange LLC

synopsis: NYSE Euronext, the world’s leading and most diverse exchange group, completed its acquisition of the American Stock Exchange(R) (Amex(R)), becoming the third-largest U.S. options marketplace and enhancing the company’s leadership in ETFs, cash equities, closed-end funds and structured products.
buyer: NYSE Euronext (NYX:$3,749.00)
NYSE Euronext operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. "
target: American Stock Exchange LLC
The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs). The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.
price ($mm)
$260
rev ($mm)
$178
EBITDA ($mm)
EV / rev
1.5x
EV / EBITDA
announced 11/6/2007 via PrimeNewswire

Nasdaq Stock Market Inc., will acquire Philadelphia Stock Exchange, Inc.

synopsis: The Nasdaq Stock Market, Inc. has entered into a definitive agreement to acquire the Philadelphia Stock Exchange. The acquisition of PHLX, the third largest options market in the U.S. and the nation's oldest stock exchange, significantly diversifies NASDAQ's product portfolio by providing NASDAQ with one of the premier options platforms in the US.
buyer parent: NASD
buyer: Nasdaq Stock Market Inc. (NasdaqGS:NDAQ:$5,926.00)
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. "
target: Philadelphia Stock Exchange, Inc.
Philadelphia Stock Exchange, Inc. operates as a stock exchange. It trades stocks, equity options, sectors index options, and currency options and futures. The company offers Philadelphia Automated Communication and Execution system, an automated equity trading system.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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Geography
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FFastFill plc
FFastFill is the leading provider of Software as a Service to the global derivatives community, using the latest developments in technology to automate trade flow processes across a firm's front, middle and back offices.
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INTERTRADE Co., Ltd.
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abc Multiactive
abc Multiactive
abc Multiactive is a software company in Hong Kong that provides solutions for brokerages. abc Multiactive offers an advanced solution for front and back-office trading. They also offer a FinReg solution that helps firms to detect abnormal trades, suspicious activities, and money laundering.
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Ticker: BLK
 
 
 
 
 
 
 
 
BlackRock, Inc.
BlackRock, Inc.
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. They help clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares®, and more.
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EBITDA ($mm)
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MarketAxess Holdings, Inc.
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Net Income ($mm)
$262.94
Employees
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First Derivatives plc
First Derivatives plc
First Derivatives (FD) is a global technology provider with nearly 20 years of experience of working with some of the world’s largest finance, technology and energy institutions.
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Infront AS
Infront provides electronic trading solutions and real-time market data, news, and analytics covering financial key markets in all asset classes. Infront’s terminal, mobile apps and versatile electronic trading solutions connect professional users to their local and international markets.
year
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EBITDA ($mm)
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EBIT ($mm)
$10.45
Net Income ($mm)
Employees
483
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Ticker: BIT:CAD
 
 
 
 
 
 
 
 
CAD IT S.p.A.
CAD IT S.p.A.
CAD IT is a dynamic Italian technology company with a leading position in financial services software. Area Finanza, their flagship product, is a securities trading and post-trading process management system. CAD IT customers includes Banks, Insurances, Funds, Brokers, Enterprises, and more.
year
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EBITDA ($mm)
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TAS Group S.p.A
TAS Group S.p.A
TAS S.p.A. a leading company in Italy in the supply of software and services for banking and financial applications, with a presence in Europe, the US and Latin America. TAS is specialised in software solutions for electronic money, payment systems, capital markets and Extended Enterprise.
year
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$63.47
EBITDA ($mm)
$6.90
EBIT ($mm)
$7.21
Net Income ($mm)
$6.01
Employees
415
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Finsoft Financial Investment Holdings Limited
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$1.91
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$1.77
Net Income ($mm)
$1.16
Employees
64
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Ticker: INIX.PK
 
 
 
 
 
 
 
 
iFinix Corporation
iFinix Corporation
Ifinix is a leading global provider of financial and business information to professionals and active individual investors. Building on a 20-year legacy of delivering time-sensitive financial information, Ifinix provides streaming, real-time market data, news and analytics.
year
2011
rev ($mm)
$0.54
EBITDA ($mm)
($0.26)
EBIT ($mm)
($0.27)
Net Income ($mm)
Employees
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Ticker: FXIT
 
 
 
 
 
 
 
 
Forex International Trading Corp.
Forex International Trading Corp.
Forex International Trading develops the next generation of Forex trading platforms. 4XINT Trader is an advanced online trading platform for the Forex market.
year
2011
rev ($mm)
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
Employees
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Ticker: AIM:BRY
 
 
 
 
 
 
 
 
Brady plc
Brady plc
Brady plc is the leading provider of software solutions for global commodity trading. They offer a choice of trading and risk management applications designed to enable producers, financial organisations and trading companies to manage their commodity transactions in an integrated solution.
year
2017
rev ($mm)
$39.97
EBITDA ($mm)
($2.65)
EBIT ($mm)
($3.47)
Net Income ($mm)
Employees
253
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Ticker: OTCPK:APTY
 
 
 
 
 
 
 
 
APT Systems, Inc.
APT is an acronym for Applied Proprietary Trading. The Management of APT Systems, Inc. works to deliver stock trading tools with a focus on handheld devices.
year
2018
rev ($mm)
$0.01
EBITDA ($mm)
($1.69)
EBIT ($mm)
($1.72)
Net Income ($mm)
Employees
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Ticker: MORN
 
 
 
 
 
 
 
 
Morningstar, Inc.
Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions.
year
2020
rev ($mm)
$1,244.10
EBITDA ($mm)
$251.90
EBIT ($mm)
$184.60
Net Income ($mm)
$142.70
Employees
6896
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Ticker: NasdaqGS:NDAQ
 
 
 
 
 
 
 
 
Nasdaq, Inc.
Nasdaq, Inc.
Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence.
year
2021
rev ($mm)
$5,926.00
EBITDA ($mm)
$1,688.00
EBIT ($mm)
$1,471.00
Net Income ($mm)
$1,028.00
Employees
5585
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Ticker: CME
 
 
 
 
 
 
 
 
CME Group
CME Group
As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. Their exchanges offer the widest range of global benchmark products across all major asset classes. The CME Globex® electronic trading platform brings buyers and sellers together.
year
2019
rev ($mm)
$4,593.10
EBITDA ($mm)
$2,975.90
EBIT ($mm)
$2,594.10
Net Income ($mm)
$1,808.00
Employees
4590
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Ticker: XTRA:DB1
 
 
 
 
 
 
 
 
Deutsche Börse Group
Deutsche Börse Group
Deutsche Börse Group is one of the largest exchange organisations worldwide. It organises markets characterised by integrity, transparency and safety for investors who invest capital and for companies that raise capital.
year
2021
rev ($mm)
$4,444.63
EBITDA ($mm)
$2,120.26
EBIT ($mm)
$1,937.87
Net Income ($mm)
$1,221.25
Employees
6881
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Ticker: LSE:LSE
 
 
 
 
 
 
 
 
London Stock Exchange Group plc
London Stock Exchange Group plc
London Stock Exchange Group is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. The Group operates a broad range of international equity, ETF, bond and derivatives markets.
year
2020
rev ($mm)
$3,186.38
EBITDA ($mm)
$1,460.26
EBIT ($mm)
$1,272.44
Net Income ($mm)
$525.11
Employees
4965
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Ticker: SEHK:388
 
 
 
 
 
 
 
 
Hong Kong Exchanges and Clearing Limited
Hong Kong Exchanges and Clearing Limited
Hong Kong Exchanges and Clearing is a leading financial market operator. From their home in the financial hub of Hong Kong and an additional base in London, they provide world-class facilities for trading and clearing securities and derivatives in Equities, Commodities, Fixed Income and Currency.
year
2019
rev ($mm)
$2,074.79
EBITDA ($mm)
$1,492.81
EBIT ($mm)
$1,432.18
Net Income ($mm)
$1,212.06
Employees
2109
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Ticker: IBKR
 
 
 
 
 
 
 
 
Interactive Brokers Group
Interactive Brokers Group
Interactive Brokers Group, together with its subsidiaries, is an automated global electronic broker that specializes in catering to financial professionals by offering state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and more.
year
2015
rev ($mm)
$1,045.51
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$12.53
Employees
960
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Ticker: TSX:X
 
 
 
 
 
 
 
 
TMX Group Inc.
TMX Group Inc.
TMX Group is an integrated, multi-asset class exchange group. TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy.
year
2021
rev ($mm)
$805.93
EBITDA ($mm)
$497.83
EBIT ($mm)
$437.79
Net Income ($mm)
$253.43
Employees
1385
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Ticker: NZE:NZX
 
 
 
 
 
 
 
 
New Zealand Exchange Limited
New Zealand Exchange Limited
The NZX Capital Markets (New Zealand Exchange Limited) form a diverse offering for companies wishing to raise growth capital and investors looking for secure and liquid investment opportunities.
year
2014
rev ($mm)
$44.56
EBITDA ($mm)
$15.59
EBIT ($mm)
$14.71
Net Income ($mm)
$8.96
Employees
188
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Ticker: CBOE
 
 
 
 
 
 
 
 
CBOE Holdings, Inc.
CBOE Holdings, Inc.
CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE), the CBOE Futures Exchange (CFE) and other subsidiaries. CBOE is the largest U.S. options exchange and creator of listed options.
year
2020
rev ($mm)
$3,181.50
EBITDA ($mm)
$865.10
EBIT ($mm)
$712.50
Net Income ($mm)
$467.20
Employees
823
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Ticker: ICE
 
 
 
 
 
 
 
 
IntercontinentalExchange
IntercontinentalExchange
Intercontinental Exchange (NYSE:ICE) operates the leading network of regulated exchanges and clearing houses. ICE’s futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency.
year
2020
rev ($mm)
$5,588.00
EBITDA ($mm)
$3,469.00
EBIT ($mm)
$3,014.00
Net Income ($mm)
$2,150.00
Employees
6423
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Ticker: SGX:S68
 
 
 
 
 
 
 
 
Singapore Stock Exchange
Singapore Stock Exchange
Singapore Exchange (SGX) is Asia’s leading market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.
year
2020
rev ($mm)
$733.19
EBITDA ($mm)
$419.18
EBIT ($mm)
$388.34
Net Income ($mm)
$326.06
Employees
877
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Ticker: KCG
 
 
 
 
 
 
 
 
KCG Holdings, Inc.
KCG Holdings, Inc.
KCG is a leading independent securities firm offering investors a range of services designed to address trading needs across asset classes, product types and time zones. As one of the world’s largest market makers, KCG combines advanced technology with exceptional client service to improve pricing.
year
2014
rev ($mm)
$1,211.64
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$12.26
Employees
1153
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Ticker: AX
 
 
 
 
 
 
 
 
Axos Financial, Inc
Axos Financial, Inc
Axos Financial, Inc., is the holding company for Axos Bank, a nationwide bank that provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables.
year
2018
rev ($mm)
$430.32
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$164.05
Employees
873
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Ticker: JASDAQ:870
 
 
 
 
 
 
 
 
Traders Holdings Co., Ltd.
Traders Holdings Co., Ltd.
Traders Holdings is a Japanese foreign exchange (FX) and securities trading service provider.
year
2015
rev ($mm)
$21.65
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
Employees
48
  • drill down
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Ticker: INTL
 
 
 
 
 
 
 
 
INTL FCStone Inc.
INTL FCStone Inc.
INTL FCStone Inc. provides execution and advisory services in commodities, currencies and international securities. INTL's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 20,000 customers.
year
2019
rev ($mm)
$37,434.30
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$83.20
Employees
2091
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