Canada’s TMX Group, which operates equities, fixed income, derivatives, and energy markets exchanges, has signed a deal with Intercontinental Exchange to acquire Trayport for £550 million.
In conjunction with the proposed acquisition of Trayport, TMX Group has agreed to sell Natural Gas Exchange and Shorcan Energy Brokers to Intercontinental Exchange.
Trayport, a provider of pre-trade energy solutions for traders, brokers and exchanges, was founded in 1993 and currently has approximately 240 employees in offices across London, New York and Singapore. Trayport will continue to licence its solutions platform to serve a global client base comprised of energy commodities traders, exchanges, wholesale brokers, and central clearing counterparties.
Lou Eccleston, chief executive officer of TMX Group, said: “The acquisition of Trayport brings a proven team of product development, data, analytics and sales talent to TMX and immediately strengthens our global data and analytics business.
“From a strategic perspective, this transaction will significantly accelerate TMX's global expansion, increase the portion of our revenue from recurring sources and enhance the portfolio of analytics products in our market insights business.”
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