NEX Group Plc's electronic fixed-income trading platform, BrokerTec Europe, completed the acquisition of a majority stake in e-MID SIM SpA, an Italian interbank deposits and overnight indexed swaps platform.
The acquisition closed March 30. E-MID will offer BrokerTec's international clients its Italian government bond repo and interbank deposit businesses. BrokerTec will integrate the e-MID technology, provided by List SpA, into its technology architecture and also offer e-MID additional eurozone repo and government bond products.
John Edwards, Richard Leighton and Lorenzo Ruffatti will join e-MID's board, representing BrokerTec and NEX.