Mergers and Acquistions News
Categories: Media & Information Services
November 25th 2008, 16:13PM
A takeover of Xtrakter by Euroclear and the International Capital Market Association is currently pending regulatory approval, according to reports.
The acquisition will consolidate Xtrakter as a wholly-owned subsidiary of Euroclear and will complement the trade matching and routing service offered by the institution, according to Hedge Week.
Ignace Combes, deputy chief executive officer of Euroclear, said the takeover will allow "trade matching" between the two organisations, which she claims will help the firm in its ambition of "streamlining processes and elimination fragmentation".
He added: "Combining the pre-settlement services and expertise of Xtrakter with the highly efficient transaction-settlement prowess of Euroclear will deliver a competitively priced, full straight-through processing service from trade matching to settlement."
Leading UK telecommunications retailer Carphone Warehouse recently revealed it could demerge its telecoms business in an attempt to improve performance during the economic downturn, Reuters reported.
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