MarketAxess Completes Purchase of Xtrakter
March 5, 2013
MarketAxess Holdings has completed its $38.5 million acquisition of Xtrakter Limited, a provider of regulatory reporting, financial market data and trade matching services in Europe.
In addition, MarketAxess appointed Robert Urtheil as head of its European and Asian businesses.
Urtheil comes from Oliver Wyman, a global management consulting firm. He was a partner and global head of the firm’s Market Infrastructure practice.
The acquisition of Xtrakter from Euroclear was completed on February 28, after approval was received from the United Kingdom’s Financial Services Authority.
MarketAxess operates an electronic trading platform for corporate bonds. Its volume reached $52.1 billion in February. That is up from a year ago, when volume in the same month was $50.0 billion. But it is down from January, when volume was $56.8 billion.