Euronext Acquires FastMatch to Expand Presence into FX Market

Euronext announced the acquisition of c.90% of FastMatch, Inc. for $153 million initial cash consideration. FastMatch’s management will remain invested with a c.10% interest, with minority rights. Closing is subject to regulatory and anti-trust approvals, and is expected to occur in Q3 of 2017. This transaction establishes Euronext’s presence in the FX segment and diversifies Euronext’s product line. Since it was established in 2012 by Credit Suisse and FXCM, FastMatch has been able to establish a sizeable position in the ECN space. As of Q1 2017, FastMatch generated $5.8m in revenue, up 48.8% compared to Q1 2016.