Direct Edge partners with International Securities Exchange

LONDON (MarketWatch) — Direct Edge Holdings and the International Securities Exchange said Friday they’ve agreed a deal under which the ISE Securities Exchange will become a wholly owned subsidiary of Direct Edge. In return ISE will gain a 31.5% stake in Direct Edge. The deal will give Direct Edge immediate access to the National Market System and is expected to complete in the fourth quarter of 2008. ISE is a subsidiary of Eurex, which is jointly owned by Deutsche Boerse and SWX Swiss Exchange. Direct Edge is owned by a consortium including Goldman Sachs , Knight Capital Group and Citadel Derivatives Group. ISE’s investment will be around $123 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

This entry was posted on Friday, August 22nd, 2008 at 3:51 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.