Like TransactTools, Inc.

closed 1/8/2007 via

New York Stock Exchange, Inc., acquired TransactTools, Inc.

synopsis: The New York Stock Exchange has signed a definitive agreement to acquire TransactTools, a provider of financial messaging technology for the securities trading industry. Financial terms of the deal were not disclosed.
buyer: New York Stock Exchange, Inc. (NYX:$3,749.00)
NYSE Euronext operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. "
target: TransactTools, Inc.
TransactTools launched the financial industry's first enterprise platform for transactional connectivity management in 2001.
price ($mm)
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closed 7/4/2018 via PR Newswire

Gresham Computing, acquired B2 Group

synopsis: Gresham Technologies plc, the leading software and services company that specialises in providing real-time data integrity and control solutions, announced that it has completed the acquisition of B2 Group. B2 Group, based in Luxembourg, are specialists in bank-to-corporate integration and cash management software.
buyer: Gresham Computing (LSE:GHT:$24.43)
Gresham Computing plc is a leading software and services company that specialises in providing real-time transaction control and enterprise data integrity solutions. Gresham’s Clareti software platform is designed to provide financial institutions with complete certainty in their data processing. "
target: B2 Group
B2 Group, based in Luxembourg, are specialists in bank-to-corporate integration and cash management software and focus on the growing multi-bank solutions market. B2 Group's core product is a cloud-based software platform to connect corporates and asset managers with their bank partners.
price ($mm)
$4.26
rev ($mm)
$2
EBITDA ($mm)
$0
EV / rev
4.9x
EV / EBITDA
60.7x
closed 2/9/2015 via PR Newswire

Centerbridge Capital Partners, acquired IPC Information Systems, LLC

synopsis: IPC Systems, Inc., a global provider of mission-critical network services and trading communication technology to the financial markets community, announced that it has been acquired by Centerbridge Partners, L.P., a leading private investment firm, from Silver Lake Partners.
buyer: Centerbridge Capital Partners
Centerbridge Partners, L.P. is a private investment firm with approximately $25 billion in capital under management. The firm focuses on private equity and credit investments and is dedicated to partnering with world-class management teams across targeted industry sectors. "
target parent: SilverLake
target: IPC Information Systems, LLC
IPC creates specialized communications solutions for the financial trading community. From their unified communications/application platform to their managed voice and data network, IPC’s solutions are focused on improving the speed, productivity, and efficiency of the entire trade lifecycle.
price ($mm)
$1,200
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/30/2014 via GlobeNewswire

Investment Technology Group, Inc., acquired RFQ-hub

synopsis: ITG, a leading independent execution and research broker, announced that it has acquired RFQ-hub, a multi-asset platform for global listed and OTC assets. RFQ-hub connects buy-side trading desks and portfolio managers with a large network of sell-side market makers.
buyer: Investment Technology Group, Inc. (ITG:$505.52)
ITG is an independent execution and research broker that partners with global portfolio managers and traders to provide unique data-driven insights throughout the investment process. "
target: RFQ-hub
RFQ-hub is a multi-asset platform for global listed and OTC (Over-the-Counter) assets. ID's SAS provides integrated technology solutions to the financial markets’ buy- and sell-sides in Europe, the Middle East, Africa, and the United States.
price ($mm)
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closed 7/28/2012 via BNC Analysis

TS-Associates, acquired Correlix

synopsis: TS-Associates, the leading supplier of precision instrumentation solutions for latency sensitive trading systems, has acquired the assets of Correlix, a latency management service provider. Correlix offers RaceTeam™, the leading latency management service providing real-time latency visibility for buy-side, sell-side and liquidity venues.
buyer: TS-Associates
TS-Associates was founded in 1999 and is a leading supplier of precision instrumentation solutions for latency sensitive trading systems. "
target: Correlix
Correlix, a leader in independent Latency Intelligence™ solutions, offers RaceTeam™, the leading latency management service providing real-time latency visibility for buy-side, sell-side and liquidity venues.
price ($mm)
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closed 12/14/2009 via PR Newswire

BNY ConvergEx Group, purchased US Transaction Services Business from NYFIX, Inc.

synopsis: ConvergEx, a leading provider of investment and execution technology solutions to institutional clients worldwide, announced that it has completed its acquisition of NYFIX Inc.'s U.S. Transaction Services business, which is comprised of the Millennium Alternative Trading System and a suite of direct market access and algorithmic trading products.
buyer parent: GTCR Golder Rauner
buyer: BNY ConvergEx Group
BNY ConvergEx Group, LLC provides investment and execution technology solutions to institutional clients worldwide. The company provides a full array of leading technologies and an integrated platform of performance-driven, global trading capabilities. "
seller: NYFIX, Inc. (NYFX:$109.99)
A pioneer in electronic trading solutions, NYFIX continues to transform trading through innovation. The NYFIX Marketplace™ is a global community of trading counterparties utilizing innovative services that optimize the business of trading.
price ($mm)
$5.00
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/30/2009 via Company Press Release

NYSE Technologies, Inc., acquired NYFIX, Inc.

synopsis: NYSE Euronext announced the completion of its acquisition, through NYSE Technologies, of NYFIX, Inc., a leading provider of innovative solutions that optimize trading efficiency, in an all-cash deal for approximately $144 million, or $1.675 per common share without interest plus preferred stock consideration.
buyer parent: NYSE Euronext
buyer: NYSE Technologies, Inc.
NYSE Technologies is the world's leading provider of end-to-end electronic trading solutions. NYSE's flexible and scalable products deliver robust and integrated solutions, from single trading positions to complete exchange platforms. "
target: NYFIX, Inc. (NYFX:$109.99)
A pioneer in electronic trading solutions, NYFIX continues to transform trading through innovation. The NYFIX Marketplace™ is a global community of trading counterparties utilizing innovative services that optimize the business of trading.
price ($mm)[EV]
$141 [$102]
rev ($mm)
$110
EBITDA ($mm)
$2
EV / rev
0.9x
EV / EBITDA
50.2x
closed 10/13/2006 via BusinessWire

Warburg Pincus, acquired NYFIX, Inc.

synopsis: NYFIX Inc. a leader in technology solutions for the financial marketplace, completed its sale of $75 million of convertible preferred stock to leading, global private equity firm Warburg Pincus. The sale was announced on September 5, 2006.
buyer: Warburg Pincus
Warburg Pincus has been a leading private equity investor since 1971. The firm has more than $20 billion of assets under management in a range of sectors including technology, media and telecommunications, consumer and retail, industrial, healthcare, financial services, energy and real estate. "
target: NYFIX, Inc. (NYFX:$109.99)
A pioneer in electronic trading solutions, NYFIX continues to transform trading through innovation. The NYFIX Marketplace™ is a global community of trading counterparties utilizing innovative services that optimize the business of trading.
price ($mm)
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closed 9/29/2006 via BusinessWire

Silver Lake Partners, acquired IPC Information Systems, LLC

synopsis: IPC Information Systems LLC, which has been renamed IPC Systems, Inc., a leading provider of mission-critical communications solutions and services, announced that Silver Lake Partners, the leading private equity firm focused on large-scale investments in technology and related industries, completed its acquisition of IPC from GS Capital Partners.
buyer: Silver Lake Partners
Silver Lake is the leading private equity firm focused on large-scale investing in technology. Silver Lake's ability to source and structure large-scale, private equity transactions and add value to portfolio companies is unmatched by other private equity firms investing in the technology industry. "
target parent: Goldman Sachs & Co.
target: IPC Information Systems, LLC
IPC Information Systems is a leading provider of mission-critical communications solutions to the world's largest financial services firms, as well as to public safety; government security; energy and power; and transportation organizations.
price ($mm)
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announced 8/26/2015 via GlobeNewswire

t0.com, will acquire SpeedRoute Technologies LLC

synopsis: Overstock.com announced that it has entered into agreements to acquire SpeedRoute and related group of privately held financial technology companies. These acquisitions were made through Overstock's t0 subsidiary. The acquisition of SpeedRoute and its underlying technologies positions Overstock to connect t0 trading to the entire US equity market.
buyer parent: Overstock.com, Inc.
buyer: t0.com
tØ.com applies the security and efficiency of crypto technology to the world of finance, making transactions more equitable, transparent and accessible to all market participants. Their goal is making financial markets more fair and efficient through the application of crypto technology. "
target: SpeedRoute Technologies LLC
SpeedRoute is a brokerage firm that currently handles approximately 2.5% of U.S. equity order flow. They are a technology leader in routing, infrastructure and technology services. They offer a wide variety of financial business solutions to help their customers achieve efficient and rapid growth.
price ($mm)
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closed 2/7/2011 via Market Wire

GATE Technologies LLC, acquired InfoEx

synopsis: GATE Technologies, an innovative financial technology company, has announced the acquisition of InfoExchange Inc. ("InfoEx"). Using its patent published technology, InfoEx neutrally references client trading data and behavioral patterns to determine what information is relevant to users.
buyer: GATE Technologies LLC
GATE Technologies is an innovative financial technology company that offers fully automated, customizable solutions for qualified investors with value-added content and analytics, transparent execution, and dematerialized settlement, clearing, and depository functions. "
target: InfoEx
InfoExchange, Inc.'s patent pending Information Smart Router™ technology references clients’ trading data to determine what information is relevant to them.
price ($mm)
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closed 5/31/2019 via Company Press Release

IRESS Market Technology Limited, acquired Quant House

synopsis: IRESS, a leading technology company providing software for financial services, including for trading and market data, investment management and financial advice, announced it has acquired QuantHouse, a leading international provider of market data and trading infrastructure.
buyer: IRESS Market Technology Limited (ASX:IRE:$292.95)
IRESS designs, develops and delivers technology for the financial services industry, including for trading and market data, investment management and financial advice. More than 450 third-party enterprises have integrated IRESS technology into their own software. "
target: Quant House
QuantHouse provides end-to-end systematic trading solutions. This includes ultra-low latency and consolidated market data solutions with QuantFEED, algo-trading development framework with QuantFACTORY and proximity hosting and order routing services with QuantLINK.
price ($mm)
$44
rev ($mm)
$24
EBITDA ($mm)
EV / rev
1.8x
EV / EBITDA
announced 11/28/2017 via Reuters

Itiviti AB, will acquire ULLInk SAS

synopsis: London-based private equity firm HgCapital has agreed to sell electronic trading and connectivity solutions provider Ullink to Sweden’s Itiviti, a company backed by Nordic Capital. Founded in 2001, Ullink is a global provider of market leading multi-asset trading technology and infrastructure for buy-side and sell-side market participants.
buyer parent: Nordic Capital
buyer: Itiviti AB
Itiviti is a world-leading technology provider for the capital markets industry. Their flexible offering includes products, solutions and services for end-to-end trading, market access, order routing, risk management and compliance. "
target parent: HgCapital
target: ULLInk SAS
Ullink provides global, market leading multi-asset trading technology and infrastructure for buy-side and sell-side market participants. Trusted by top-tier banks, brokers and trading venues, they provide consistent, reliable access to the most current and innovative trading solutions available.
price ($mm)
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closed 4/4/2014 via Company Press Release

Pico Quantitative Trading LLC, acquired Spryware

synopsis: Pico Quantitive Trading has announced its acquisition of Spryware, the premier provider of fully managed low latency direct market data access and ticker plant technology. SpryWare’s core technology is designed specifically for low latency real- time market data needs.
buyer: Pico Quantitative Trading LLC
Pico is a financial technologies services firm and agency only broker dealer established under the business principals of providing distinguished products and services, delivering innovative and pragmatic technology solutions, and offering significant market structure and regulatory expertise. "
target: Spryware
SpryWare provides standardized market data via direct exchange feeds. SpryWare’s flagship product, The Market Information Server (MIS) ™, represents the latest and fastest in the low-latency, DMA marketplace. Working in a niche field the company is 100% focused on delivering market data, faster.
price ($mm)
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closed 3/4/2014 via PE Hub

HgCapital, acquired ULLInk SAS

synopsis: HgCapital has made a majority investment in Ullink, a leading global provider of electronic trading applications and connectivity to the financial community. Ullink has grown quickly to become a global provider of multi-asset trading technology and infrastructure for buy-side and sell-side market participants.
buyer: HgCapital
HgCapital is a leading investor in the European private equity market. Successor to Mercury Private Equity, which was acquired by Merrill Lynch. Mercury Private Equity staff acquired the business from Merrill Lynch and renamed it HgCapital. HgCapital has funds under management of €2.5 billion. "
target: ULLInk SAS
ULLINK provides international financial institutions with low-latency connectivity and trading solutions. Ullink is a specialist of Real Time information processing, and one of the leading specialist in FIX Protocol applications.
price ($mm)
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closed 6/13/2011 via BusinessWire

WEDBUSH, Inc., acquired Lime Brokerage LLC

synopsis: WEDBUSH, Inc., one of the nation’s leading full-service investment firms announced that it acquired Lime Brokerage LLC, the preeminent provider of ultra low-latency, ultra high-throughput trading technologies and high-volume agency brokerage services, through its Wedbush Securities subsidiary.
buyer: WEDBUSH, Inc.
WEDBUSH, Inc., through its holdings, provides private and institutional brokerage, investment banking, equity research, fixed income, clearing, sponsored-access, and execution, private capital, commercial banking, and asset management to individual, institutional and issuing clients. "
target: Lime Brokerage LLC
Lime Brokerage LLC integrates world-class advanced execution technology with clearing and reporting services, and 15c3-5 compliant risk controls for seamless support of the most complex, automated and high-volume electronic trading strategies.
price ($mm)
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closed 4/27/2010 via BNC Analysis

B2 Hub, acquired RCP Consultants Ltd

synopsis: FX industry specialist RCP announced they have been acquired by B2 Hub, the Luxembourg-based financial software and services vendor, owned by the same consortium which also owns straight through processing (STP) experts B2 Hub.
buyer: B2 Hub
B2 Hub is a centrally hosted intelligent message hub, running within a secure and reliable data centre, the service enables messaging between financial counterparties, allowing communication via any message medium or format. "
target: RCP Consultants Ltd
RCP Consultants' RCP Deal Web provides a single global repository for FX trades; FX Trading Venue Consolidation, a connectivity solution that allows consolidating various transaction notifications feeds from various FX trading venues.
price ($mm)
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closed 3/10/2015 via BusinessWire

TradeKing Media, acquired Trader|OS

synopsis: TradeKing Group, Inc., announced it has created a new subsidiary, TradeKing Media. To provide the foundation for TradeKing Media’s offerings, the company also announced it has acquired Trader|OS, a real-time financial news, ideation and collaboration platform for investors that takes social trading to an unprecedented level.
buyer parent: Velocity Capital B.V.
buyer: TradeKing Media
TradeKing Media serves as the primary resource for the full portfolio of educational content and social collaboration channels available to all investors, both clients and non-clients of TradeKing Group alike. "
target: Trader|OS
Trader|OS enables traders to view interactive, real-time streaming videos; discuss strategies with other investors while creating, curating and sharing charts; customize news and social feeds, and make timely trades -- all simultaneously through one, fully-integrated dashboard.
price ($mm)
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closed 8/1/2012 via BNC Analysis

CME Group, acquired Pivot Inc

synopsis: CME Group, the world's leading and most diverse derivatives marketplace, announced the launch of CME Direct Messenger, a sophisticated instant messaging platform for traders in the energy markets. CME Direct Messenger will be powered by market-leading instant messaging software developed by Pivot, Inc.
buyer: CME Group (CME:$4,593.10)
CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. "
target: Pivot Inc
Pivot’s™ solutions are used to manage instant message workflow, extract and organize relevant market information and disseminate it efficiently, even if the information is embedded in casual instant message conversations.
price ($mm)
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closed 1/23/2017 via PR Newswire

Visible Alpha, acquired ONEaccess

synopsis: Visible Alpha announced its acquisition of ONEaccess. ONEaccess is a leading corporate access, resource tracking and broker valuation platform with more than 185 contributing sell-side firms and 150 buy-side client firms.
buyer: Visible Alpha
Visible Alpha transforms the way Wall Street firms collaborate by combining advanced data correction methodologies, secure distribution network & sophisticated analytical tools on the front end to drive efficiencies & transparency into the research process & help firms generate alpha in new & ways. "
target: ONEaccess
ONEaccess is a content and interactions analytics hub that is changing the way the buy side and the sell side collaborate with one another. They improve the efficiency of discovering corporate access events, and analyzing and valuing interactions between professionals on both sides of the market.
price ($mm)
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closed 1/8/2007 via

New York Stock Exchange, Inc., acquired TransactTools, Inc.

synopsis: The New York Stock Exchange has signed a definitive agreement to acquire TransactTools, a provider of financial messaging technology for the securities trading industry. Financial terms of the deal were not disclosed.
buyer: New York Stock Exchange, Inc. (NYX:$3,749.00)
NYSE Euronext operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. "
target: TransactTools, Inc.
TransactTools launched the financial industry's first enterprise platform for transactional connectivity management in 2001.
price ($mm)
rev ($mm)
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announced 6/5/2018 via BusinessWire

NYSE, will acquire Radiate, Inc.

synopsis: NYSE has acquired Radiate, Inc. Radiate offers a library of more than 2,000 short-length video lessons taught by over 100 global CEOs and thought leaders. The Radiate platform, when it becomes a part of the NYSE, will add to the Exchange’s broad array of content and events.
buyer parent: Intercontinental Exchange
buyer: NYSE (NYX:$3,749.00)
NYSE Group is a subsidiary of Intercontinental Exchange, a leading operator of global exchanges and clearing houses, and a provider of data and listings services. The NYSE is the premier global venue for capital raising, leading worldwide in IPOs, including technology IPOs. "
target: Radiate, Inc.
Radiate, Inc. was founded in 2016 to empower emerging leaders with expert advice. Radiate offers a library of more than 2,000 short-length video lessons taught by over 100 global CEOs and thought leaders. These lessons help emerging leaders to develop leadership and soft skills.
price ($mm)
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closed 6/7/2017 via PE Hub

Marlin Equity Partners, acquired True Office Learning

synopsis: Marlin Equity Partners has acquired True Office Learning, formerly known as NYSE Governance Services Inc, from Intercontinental Exchange Inc. True Office is a leading provider of analytics-rich, interactive e-learning software and services, specializing in governance, risk and compliance (“GRC”).
buyer: Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $6.7 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. "
target parent: Intercontinental Exchange, Inc.
target: True Office Learning
True Office Learning is a leading enterprise education and analytics company that connects e-learning to advanced behavioral data through an adaptive technology platform. The company’s cloud-based software provides organizational insights that were previously immeasurable.
price ($mm)
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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)
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closed 11/6/2014 via Forbes

NYSE, acquired True Office

synopsis: NYSE Acquired True Office. The company enables global organizations to educate their workforces more effectively by delivering interactive experiences that make complex policies understandable. Their software solutions turns compliance training into games, with scoring and record-keeping.
buyer parent: Intercontinental Exchange, Inc.
buyer: NYSE (NYX:$3,749.00)
NYSE operates global financial markets across commodities, FX, equities, bonds, interest rates. NYSE's stock exchanges represent one-third of traded equities volume worldwide. NYSE operates four exchanges across the US and Europe offering commodities, fixed income and equity derivatives. "
target: True Office
True Office is the pioneer in impactful, gamified training software applied to compliance & risk management, professional development and customer proficiency. They help organizations educate stakeholders more effectively by transforming complex policies and concepts into understandable meaning.
price ($mm)
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announced 6/18/2014 via BusinessWire

SR LABS, will acquire Wombat Financial Software

synopsis: SR Labs, a leading provider of low latency market data and market access solutions for the financial industry, announced it has agreed to acquire Wombat from Intercontinental Exchange. Wombat is a global leader in high performance financial market data management solutions.
buyer: SR LABS
Street Response Laboratories (SR Labs) provides low latency market data and exchange connectivity solutions for the financial industry. Thier flagship products, SMDS and SREX are currently used by top-tier investment banks and hedge funds. "
target parent: IntercontinentalExchange
target: Wombat Financial Software
Wombat is a global leader in high performance financial market data management solutions offering customers comprehensive, end-to-end solutions for electronic trading and connectivity management.
price ($mm)
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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:$5,202.00)
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
announced 5/24/2012 via BusinessWire

NYSE Euronext, will acquire Corpedia Corporation

synopsis: NYSE Euronext announced that it has entered into a definitive agreement to acquire Corpedia Corporation, a leading global provider of ethics and compliance e-learning and consultative services. Corpedia serves more than 500 customers across all industry sectors.
buyer: NYSE Euronext (NYX:$3,749.00)
NYSE Euronext is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. "
target: Corpedia Corporation
Corpedia is a leader in governance, risk and compliance (GRC) education, communication, and advice. Corpedia helps drive a culture of ethics throughout an organization, but also provides a defensible plan in the event of malfeasance.
price ($mm)
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closed 9/1/2011 via BusinessWire

NYSE Technologies, Inc., acquired Metabit Systems Co., Ltd.

synopsis: NYSE Euronext's NYSE Technologies announced the completion of its acquisition of Metabit, a leading Tokyo-based provider of high performance market access products with a trading community of more than 140 trading firms throughout Japan and Asia.
buyer parent: NYSE Euronext
buyer: NYSE Technologies, Inc.
NYSE Technologies provides comprehensive transaction, data and infrastructure services and managed solutions for buy-side, sell-side and exchange communities that require next-generation performance and expertise for mission critical and value-added client services. "
target: Metabit Systems Co., Ltd.
Headquartered in Tokyo, MetaBit Systems Co., Ltd. provides financial information exchange (FIX) protocol and direct market access trading solutions development, support, and consultancy services to the financial industry.
price ($mm)
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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:$3,267.92)
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
closed 9/1/2010 via BusinessWire

NYSE Euronext, acquired Corporate Board Member

synopsis: NYSE Euronext (NYX) announced that it has acquired Corporate Board Member, publisher of Corporate Board Member magazine and a leading provider of interactive education and thought leadership for directors and executive officers of publicly traded companies.
buyer: NYSE Euronext (NYX:$3,749.00)
NYSE Euronext (NYX) 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. "
target: Corporate Board Member
Corporate Board Member is the leading information resource for senior officers and directors of publicly traded corporations, large private companies, and Global 1000 firms.
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closed 10/15/2009 via Company Press Release

Thomson Reuters, acquired Hugin Group BV

synopsis: Thomson Reuters announced that it has completed the acquisition of Hugin Group BV from NYSE Euronext. Hugin is the leading pan-European provider of regulatory and news distribution services. The acquisition reinforces Thomson Reuters commitment to serving the broad needs of investor relations and corporate communications professionals.
buyer: Thomson Reuters (TRI:$5,906.00)
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. Powered by the world's most trusted news organization, Thomson Reuters combine industry expertise with innovative technology to deliver critical information to leading decision makers. "
target parent: NYSE Euronext
target: Hugin Group BV
Hugin Group is the favored partner of Investor Relations and Public Relations Officers, offering a full range of services including: financial, regulatory and media news distribution, online services, broadcast services and client services.
price ($mm)
rev ($mm)
$7
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 11/30/2009 via Company Press Release

NYSE Technologies, Inc., acquired NYFIX, Inc.

synopsis: NYSE Euronext announced the completion of its acquisition, through NYSE Technologies, of NYFIX, Inc., a leading provider of innovative solutions that optimize trading efficiency, in an all-cash deal for approximately $144 million, or $1.675 per common share without interest plus preferred stock consideration.
buyer parent: NYSE Euronext
buyer: NYSE Technologies, Inc.
NYSE Technologies is the world's leading provider of end-to-end electronic trading solutions. NYSE's flexible and scalable products deliver robust and integrated solutions, from single trading positions to complete exchange platforms. "
target: NYFIX, Inc. (NYFX:$109.99)
A pioneer in electronic trading solutions, NYFIX continues to transform trading through innovation. The NYFIX Marketplace™ is a global community of trading counterparties utilizing innovative services that optimize the business of trading.
price ($mm)[EV]
$141 [$102]
rev ($mm)
$110
EBITDA ($mm)
$2
EV / rev
0.9x
EV / EBITDA
50.2x
closed 4/21/2008 via BusinessWire

Marco Polo Network, Inc., acquired XTF.com

synopsis: Marco Polo Network, the largest platform for electronic trading of securities listed and traded on Emerging Markets exchanges, today announced the acquisition of the trademarks, intellectual property IT infrastructure and consumer facing assets of XTF Global Asset Management Inc., an ETF research and ETF based investment advisor.
buyer parent: NYSE Euronext
buyer: Marco Polo Network, Inc.
Marco Polo Network is currently the largest independent platform for electronic trading of securities listed and traded on Emerging Markets exchanges. MPN’s trading platform allows global investors transparent and cost efficient electronic access to over 70 local exchanges in 42 emerging markets. "
target: XTF.com
XTF Global Asset Management LLC is an investment firm dedicated to helping investors harness the power of Exchange Traded Funds (ETFs). We offer a broad range of products, services and technologies that can help you to understand the role ETFs can play in enhancing investment returns.
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 2/15/2008 via BusinessWire

NYSE Euronext, will purchase a minority stake in MCX

synopsis: NYSE Euronext (NYX), the world’s leading and most diverse financial market group, today announced that it has signed a binding term sheet to acquire a 5% equity position in the Multi Commodity Exchange (MCX), India’s leading commodity marketplace, subject to certain conditions.
buyer: NYSE Euronext (NYX:$3,749.00)
NYSE Euronext operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. "
target: MCX
Headquartered in Mumbai, MCX is a demutualised nationwide electronic multi commodity futures exchange set up by Financial Technologies with permanent recognition from Government of India for facilitating online trading, clearing & settlement operations for futures market across the country.
price ($mm)[EV]
$65 [$39]*
rev ($mm)
$67
EBITDA ($mm)
$38
EV / rev
15.9x
EV / EBITDA
28.2x
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
closed 3/7/2008 via BusinessWire

NYSE Euronext, acquired Wombat Financial Software

synopsis: NYSE Euronext announced the closing of its $200 million acquisition of Wombat Financial Software, the technology innovator and world leader in market data management solutions, as previously announced on January 14, 2008. Wombat will join TransactTools as part of the newly formed NYSE Euronext Advanced Trading Solutions division.
buyer: NYSE Euronext (NYX:$3,749.00)
NYSE Euronext operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. "
target: Wombat Financial Software
Wombat Financial enables limitless connectivity to the global markets through the world's most advanced high speed market data infrastructure. Wombat software underpins automated market-making systems, electronic-trading floors and tick-capture platforms in financial institutions around the world.
price ($mm)
$180
rev ($mm)
$28
EBITDA ($mm)
$10
EV / rev
7.1x
EV / EBITDA
20.4x
announced 12/11/2007 via finextra.com

NYSE Euronext, will acquire Atos Euronext Market Solutions

synopsis: Nyse Euronext says it has agreed in principle to buy Atos Origin's stake in the Atos Euronext Market Solutions (AEMS) joint venture, in a move that will bring its technology operations back in-house.
buyer: NYSE Euronext (NYX:$3,749.00)
NYSE Euronext operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. "
target parent: ATOS Origin
target: Atos Euronext Market Solutions
Atos Euronext Market Solutions Limited provides technology solutions to the financial services industry internationally. It operates through four business divisions: Exchange, Capital Markets, Clearing & Settlement, and Global Managed Services.
price ($mm)
$415*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/18/2006 via finextra.com

Euronext N.V., will acquire SecFinex, Ltd.

synopsis: Euronext is to acquire a 51% stake in European securities lending platform SecFinex. The Exchange says the acquisition will enable SecFinex to extend its client base to members of Euronext and Euronext.liffe, and ultimately to improved post-trade processing.
buyer parent: New York Stock Exchange, Inc.
buyer: Euronext N.V. (ENXTPA:ENX:$721.90)
Euronext N.V. is the world's first cross border exchange business. It provides services for cash markets in Belgium, France, the Netherlands, and Portugal, and for derivatives in the UK. Euronext's services range from public offerings to trading facilities for cash instruments and derivatives. "
target: SecFinex, Ltd.
SecFinex provides an efficient and impartial trading platform for securities financing professionals to meet and execute trades worldwide in Dutch, French, German, Irish, Italian, Japanese, Spanish, Swedish, Swiss and UK equity markets.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/8/2007 via

New York Stock Exchange, Inc., acquired TransactTools, Inc.

synopsis: The New York Stock Exchange has signed a definitive agreement to acquire TransactTools, a provider of financial messaging technology for the securities trading industry. Financial terms of the deal were not disclosed.
buyer: New York Stock Exchange, Inc. (NYX:$3,749.00)
NYSE Euronext operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. "
target: TransactTools, Inc.
TransactTools launched the financial industry's first enterprise platform for transactional connectivity management in 2001.
price ($mm)
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:$1,753.05)
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:$3,267.92)
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:$3,752.59)
London Stock Exchange is the world’s most international exchange. Nearly 2,500 companies from more than 90 countries are quoted across its markets, with a combined value of £4.4 trillion.
price ($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:$5,202.00)
IntercontinentalExchange (ICE) operates the leading global, electronic marketplace for trading both futures and OTC energy contracts. ICE offers a range of contracts based on crude oil and refined products, natural gas, power and emissions. "
target: Singapore Mercantile Exchange
Singapore Mercantile Exchange(SMX) is the first pan-Asian multi-product commodity and currency derivatives exchange. SMX offers a comprehensive platform for trading a diversified basket of commodities including futures and options contracts on metals, agriculture commodities, energy, and currencies.
price ($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:$5,202.00)
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:$3,267.92)
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$7.5 million.
buyer: Singapore Stock Exchange
Singapore Exchange Limited (SGX) is Asia-Pacific's first demutualised and integrated securities and derivatives exchange. SGX was inaugurated on 1 December 1999, following the merger of the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX). "
target: Singapore Commodity Exchange
Singapore Commodity Exchange provides a centralised and regulated marketplace for commodity futures to be traded in Singapore. This paves the way for Singapore to become a commodity futures trading centre complementing its international trading activities.
price ($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:$5,202.00)
IntercontinentalExchange operates the leading global, electronic marketplace for trading both futures and OTC energy contracts. ICE offers a range of contracts based on crude oil and refined products, natural gas, power and emissions. "
target: Winnipeg Commodity Exchange
Winnipeg Commodity Exchange Inc., established in 1887, has been facilitating futures contract trading since 1904. WCE is Canada's only agricultural futures and options exchange and North America's first fully electronic commodity exchange. WCE offers futures and options contracts.
price ($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:$4,262.00)
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. "
target: Philadelphia Stock Exchange, Inc.
Philadelphia Stock Exchange, Inc. operates as a stock exchange. It trades stocks, equity options, sectors index options, and currency options and futures. The company offers Philadelphia Automated Communication and Execution system, an automated equity trading system.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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Matching Companies
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.
year
2019
rev ($mm)
$13,880.00
EBITDA ($mm)
$5,602.00
EBIT ($mm)
$5,300.00
Net Income ($mm)
$4,199.00
Employees
0
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Ticker: MKTX
 
 
 
 
 
 
 
 
MarketAxess Holdings, Inc.
MarketAxess Holdings, Inc.
MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets.
year
2019
rev ($mm)
$463.87
EBITDA ($mm)
$246.49
EBIT ($mm)
$224.84
Net Income ($mm)
$185.05
Employees
454
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Ticker: AIM:FDP
 
 
 
 
 
 
 
 
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.
year
2017
rev ($mm)
$222.71
EBITDA ($mm)
$27.38
EBIT ($mm)
$21.19
Net Income ($mm)
$11.43
Employees
2000
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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
2018
rev ($mm)
$74.33
EBITDA ($mm)
$14.44
EBIT ($mm)
$7.75
Net Income ($mm)
$4.94
Employees
590
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Ticker: BIT:TAS
 
 
 
 
 
 
 
 
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
2019
rev ($mm)
$55.41
EBITDA ($mm)
$2.30
EBIT ($mm)
$2.06
Net Income ($mm)
$0.79
Employees
415
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Ticker: SEHK:8018
 
 
 
 
 
 
 
 
Finsoft Financial Investment Holdings Limited
Finsoft Financial Investment Holdings is principally engaged in the provision of financial trading software solutions, provision of other internet financial platforms, provision of referral services, money lending business, securities investments and provision of corporate finance advisory services.
year
2015
rev ($mm)
$7.26
EBITDA ($mm)
$1.91
EBIT ($mm)
$1.77
Net Income ($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: GB:FFA.GB
 
 
 
 
 
 
 
 
FFastFill plc
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.
year
2011
rev ($mm)
$24.91
EBITDA ($mm)
$6.69
EBIT ($mm)
$3.39
Net Income ($mm)
$2.90
Employees
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Ticker: TSE:3747
 
 
 
 
 
 
 
 
INTERTRADE Co., Ltd.
INTERTRADE Co., Ltd. is a Japan-based company principally engaged in the provision of packaged systems for security business. The Company is involved in the design, development, sale, maintenance and operation of front and packaged systems for security business and corporations, and more.
year
2018
rev ($mm)
$17.15
EBITDA ($mm)
($3.32)
EBIT ($mm)
($3.58)
Net Income ($mm)
Employees
115
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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: 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: 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
2019
rev ($mm)
$4,262.00
EBITDA ($mm)
$1,327.00
EBIT ($mm)
$1,137.00
Net Income ($mm)
$774.00
Employees
4339
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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
2019
rev ($mm)
$3,752.59
EBITDA ($mm)
$2,195.43
EBIT ($mm)
$2,048.90
Net Income ($mm)
$596.04
Employees
4587
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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
2018
rev ($mm)
$3,267.92
EBITDA ($mm)
$1,792.82
EBIT ($mm)
$1,707.24
Net Income ($mm)
$930.68
Employees
5652
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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
2019
rev ($mm)
$769.01
EBITDA ($mm)
$494.74
EBIT ($mm)
$442.06
Net Income ($mm)
$210.82
Employees
1230
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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
2017
rev ($mm)
$1,753.05
EBITDA ($mm)
$596.84
EBIT ($mm)
$420.60
Net Income ($mm)
$189.72
Employees
553
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Ticker: GCAP
 
 
 
 
 
 
 
 
GAIN Capital Holdings, Inc.
GAIN Capital Holdings, Inc.
GAIN Capital Holdings provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities.
year
2019
rev ($mm)
$213.30
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
Employees
638
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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
2019
rev ($mm)
$5,202.00
EBITDA ($mm)
$3,176.00
EBIT ($mm)
$2,720.00
Net Income ($mm)
$1,933.00
Employees
5989
  • drill down
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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: XTRA:N4G
 
 
 
 
 
 
 
 
The NAGA Group AG
The NAGA Group AG
The NAGA Group is a German fintech company. NAGA's flagship product, NAGA Trader, is a social investing network that allows traders to like, share and copy investments on stocks, crypto and other CFDs. Their users can invest in Uber, Brent Oil, Bitcoin and over 800 other markets.
year
2018
rev ($mm)
$19.65
EBITDA ($mm)
($4.65)
EBIT ($mm)
($5.34)
Net Income ($mm)
Employees
92
  • drill down
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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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