LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Becomes obvious why Thomson Reuters is acquiring FXall.
On a day when we hear that Thomson Reuters will be acquiring Forex ECN FXall for $625 million, we also learn that Thomson Reuters’ June FX volumes in its own interdealer network were down 7% from May levels to $143 billion per day.
Thomson Reuters’ down month follows upbeat reports on June figures we have already seen from FXall (June was actually a record month) and ICAP-EBS. This helps us make even more sense of Thomson Reuters’ acquisition of FXall at a healthy premium to its public market price, and 83% premium to its February IPO price, as Thomson Reuters seeks to not just maintain its lead in the Forex ECN world but also to jump-start growth.
For more on the global FX market see the LeapRate-Dow Jones Forex Industry Report.