A consortium of 10 banks and market-making firms is investing $172 million in BGC’s electronic trading and exchange business, called FMX.
The deal, which gives FMX an implied valuation of $667 million, underscores BGC’s ambitions to challenge CME Group’s dominance in the US Treasury cash and futures markets.
The consortium – which consists of Bank of America, Barclays, Citadel Securities, Citi, Goldman Sachs, JP Morgan, Jump Trading, Morgan Stanley, Tower Research Capital and Wells Fargo – will
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
