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Euroclear Finalises Acquisition of Xtrakter

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Following the announcement of its acquisition of Xtrakter in November last year, Euroclear has finally closed the deal. The international central securities depository (ICSD) operator has purchased the International Capital Market Association (ICMA) subsidiary, which operates the Trax trade matching and reporting platform, with a view to creating synergies between Trax and its own OTC trade matching and routing service provided by Euroclear UK & Ireland.

Xtrakter is now a wholly owned subsidiary of Euroclear and a sister company to the Euroclear group’s international and national CSDs, and EMXCo. Tim May, chairman of Euroclear UK & Ireland, has become chairman of Xtrakter.

Ignace Combes, deputy CEO of Euroclear, says: “Our joint efforts will make it possible to automate trade information flows from matching, using the Trax system, through to settlement at Euroclear. We will eliminate fragmentation and trade matching duplication, while reducing costs and settlement fails.”

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