Frankfurt exchange operator Deutsche Boerse buying foreign exchange trading platform 360T

Industries Associated Press

Frankfurt stock exchange operator Deutsche Boerse AG says it is buying foreign exchange trading platform 360T for 725 million euros ($796 million).

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Deutsche Boerse said Sunday that it plans to finance the acquisition of 360T using a combination of debt and equity, a route aimed at minimizing any impact on its credit rating. It says 360T, which is based in Frankfurt and whose customers include corporate clients and banks, has seen double-digit annual revenue growth since it was founded in 2000.

The deal requires approval from competition and supervisory authorities.