Moscow Exchange to acquire stake in e-fx trading platform BierbaumPro AG

Moscow Exchange’s Supervisory Board approved the purchase of a minority shareholding in BierbaumPro AG on 5 March. The Board also approved an agreement to acquire up to 100% of BierbaumPro equity over a period of three years. The final price for the Bierbaumpro’s equity will depend on the company’s operational and financial performance.

BierbaumPro’s main asset is NTProgress. BierbaumPro has 100% shareholding of NTProgress, the Russian company which developed OTC FX platform NTPro.

NTProgress launched in 2016 and since then it has developed from a startup to a platform solution provider on the Russian OTC FX electronic market, with a client base of more than 30 banks. The platform provides solutions for liquidity aggregation, matching and algo execution with a wide range of FX instruments. In 2019, average daily volumes of the platform reached around USD 4.5 billion.

MOEX and NTProgress’s partnership will create an opportunity for expansion of both companies’ service offering and enabling them to offer clients NTPro’s flexible advanced FX trading solutions along with MOEX’s risk-management and post-trade facilities.
MOEX will continue to improve and grow NTPro in collaboration with the current NTProgress team.

Igor Marich, Member of the Moscow Exchange Executive Board, stated:

Igor Marich

Igor Marich, MOEX

The acquisition of NTPro marks an important milestone in the delivery of MOEX’s new strategy, as the Exchange seeks to enter rapidly developing market segments adjacent to its existing business. The addition of OTC market services and functionality to our product line means we will be better able to meet our clients’ needs.

Vyacheskav Kashigin, CEO of NTProgress, commented:

The partnership with MOEX opens a new page in the NTProgress story, and underscores the confidence in our team’s industry-recognized ability to create high-tech trading services. The transaction has been structured to motivate the parties to work together effectively over the long term.

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