Deutsche Börse is expanding the offering of its segment Market Data & Analytics by acquiring the US-based financial news agency Market News International (MNI). A purchase agreement was signed last Friday. Market News International will become a 100 percent subsidiary of Deutsche Börse for US$10 million in cash. The transaction is expected to close by the end of January 2009, subject to approval of the German competition commission (Bundeskartellamt).
NI has direct access to news rooms from government agencies and supranational organizations such as the World Bank and the International Monetary Fund. Via MNI’s access to these sources, Deutsche Börse is to expand its real-time information offerings for the financial markets. These information provide the basis for trading decisions to market participants.
“The acquisition of MNI is consistent with our growth strategy of adding globally relevant trading data to our real-time data feeds. Market participants pursuing automated trading strategies and quants will benefit from new trading signals for their algorithms”, said Holger Wohlenberg, Managing Director of Deutsche Börse Market Data & Analytics.
As yet, Market News International has been a subsidiary of Xinhua Finance Ltd, China’s leading financial information provider. Market News International has a staff of 85 employees at 12 locations in Europe, Asia and the United States.
