The Russian market operator Moscow Exchange Group (MOEX) completed the acquisition of a 17% stake in BierbaumPro AG last week. BierbaumPro’s main asset is NTProgress, the company that developed OTC FX platform NTPro.
MOEX entered an agreement to consolidate ownership of up to 100% of BierbaumPro’s equity over three years. The exchange announced its plans in March this year. The final price for 100% of BierbaumPro’s equity will depend on the company’s operational and financial performance.
NTProgress has grown since its launch from a startup to a platform solution provider on the Russian OTC FX electronic market with over 30 banks as clients.
The platform offers liquidity aggregation solutions, matching and algo execution across a wide range of FX instruments.
This partnership will expand the MOEX and NTProgress’ service offering, as well as allow them to offer clients NTPro’s highly flexible advanced FX trading solutions alongside MOEX’s clearing and settlement facilities.
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