By Eva Szalay
Thomson Reuters Corp. (TRI) has agreed to buy electronic currencies
trading platform FX Alliance Inc. (FX) in a move that will see the two
trading platforms merge to create a trading venue where the largest
banks in the space will interact with corporate clients and
high-frequency traders.
Thomson Reuters will acquire all of FX Alliance for $22 a share in
cash and the deal is expected to close in the third quarter of this
year.
Thomson Reuters, which also produces news that competes with News
Corp.'s Dow Jones & Co., publisher of The Wall Street Journal and Dow
Jones Newswires, traditionally caters for the interbank currencies
market, while FX Alliance provides trading for corporate and other
institutional clients. The merging of the two platforms will likely
crank up the pressure on competing systems.
Write to Eva Szalay at eva.szalay@dowjones.com
(END) Dow Jones Newswires
July 09, 2012 05:54 ET (09:54 GMT)
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