Nasdaq (NDAQ) will acquire content and analytics provider eVestment for $705 million funded through a mix of debt and cash on hand. eVestment provides institutional investors with a database for traditional and alternative strategies to facilitate investment decisions. eVestment has more than 2,000 clients, including 92% of the top asset managers, 76% of the top consulting firms and 80% of the top 20 pension funds. The deal is expected to close in 2Q17.
NDAQ filed suit against MIAX for patent infringement and stealing of Nasdaq trade secret, according to Bloomberg. NDAQ says 15 former NDAQ employees joined MIAX. NDAQ suit claims that “MIAX relied on or piggybacked off of the Nasdaq trade secrets and other technical know-how acquired by former Nasdaq employees during their tenure at Nasdaq.”
Deutsche Borse (DB1): Eurex is finalizing its preparations for MiFID II. Eurex scheduled technical implementation of the requirements for December.
DB1 Venture Network and High-Tech Gründerfonds (HTGF) formalized existing collaboration by signing a cooperation agreement to continue linking existing programs with each other to closely support start-ups throughout their entire funding and growth phase.
European Network Exchange (ENX) launched a European Tech SME initiative beyond its core domestic markets, opening offices in Germany, Italy, Spain and Switzerland and forming teams to collaborate with local ecosystems.
London Stock Exchange (LSE): LCH ForexClear service had record monthly volume in August surpassing $1t in notional. NDF clearing services volume significantly increased since the introduction of the uncleared margin rules in Sep-2016.
LSE identifies 1000 most dynamic SMEs in Europe on its ‘1000 Companies to Inspire Europe 2017’ report.
MOEX: NSD began collecting and disclosing market participants’ Level 2 data which allows for the identification of parent and subsidiary companies using LEIs and connections between them.
Singapore Exchange (SGX) welcomed Taiwan-based Dah Chang Futures as a trading member in its derivatives market.
Wiener Boerse added 129 German stocks to the quotation list of the global market segment launched in June. Baader Bank acts as market maker.
LSE purchased 23k shares at 3,939 per share. LSE has 3.22m shares held in treasury.
Liquidnet's survey shows that just 6% of asset managers are currently ready to meet best execution requirements.
BT appointed David Payne as managing director of BT Radianz Services.
DTCC: U.S. markets migrate to T+2 settlement cycle today.