Thomson Reuters has completed its acquisition of electronic foreign exchange trading platform FXall.
The electronic trading platform is now a Thomson Reuters property.
The purchase was completed via cash tender offer at $22 per share and by exercising a top-up option to acquire additional shares directly from FXall. This was followed by a short-form merger of CB with FXall on August 20.
The acquisition brings FXall’s trading and workflow processes into the Thomson fold. These include 1,300-plus institutional clients, such as asset managers, corporations, banks, broker-dealers and hedge funds.
"Both FXall and Thomson Reuters will continue to operate their trading platforms and service channels as we complete the integration," said Abel Clark, managing director, Marketplaces, Thomson Reuters.
During the integration period, Thomson said there will be no change to the FXall organizational structure. FXall will also continue to operate with its existing brand, technology and processes. It believes that will provide client continuity, ensuring no service disruption.
Thomson announced the agreement to purchase FXall, through its subsidiary CB Transaction Corp., on July 9.