Colt Group is to acquire a majority stake in MarketPrizm.
The deal will see the information delivery platform acquire the stake in the low latency market data and trading infrastructure services provider, MarketPrizm, from Instinet Incorporated.
Under the agreement terms, there is no initial consideration payable by Colt, since it has committed to fund the business through its next phase of growth.
The deal, Colt claims, underscores its commitment to the financial sector, and its vision of being Europe’s leading information delivery platform.
Colt CEO, Rakesh Bhasin said: “Providing market data and trading infrastructure services is a natural step for Colt as we pursue our vision of becoming Europe’s leading information delivery platform. With our strong existing financial services customer base, this transaction will extend Colt’s finance sector capability and presence and create new opportunities to provide trade execution services to clients in equities and other asset classes in Europe and Asia. We are also very pleased that we will be working with Nomura to extend our current customer relationship to the MarketPrizm services for market data, connectivity and hosting in EMEA and Asia.”
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