Thomson Reuters Corp. (TRI) said Monday it has completed its
acquisition of electronic foreign exchange trading system FX
Alliance (FX), known as FXall among industry participants.
Thomson Reuters, which produces news that competes with News
Corp.'s Dow Jones & Co., publisher of The Wall Street Journal
and Dow Jones Newswires, announced its intention to acquire FXall
in early July. The company said Monday the two currency-dealing
venues will continue to operate their trading platforms and
services as Thomson Reuters completes the integration process.
FXall is used mainly by asset managers, corporations, banks,
broker-dealers and hedge funds while Thomson Reuters' Marketplaces
trading offering caters mainly to bank traders. Thomson Reuters
said the acquisition will combine the two platforms to create a
market-leading offering in their respective customer segments.
Market participants are keen to hear more about how the two
platforms will be combined and whether the two customer types will
be trading on a single, integrated trading platform. Thomson
Reuters said it was unable to give more detail about this for
now.
"We look forward to building our community, people and services
to deliver the most innovative FX services available across the
entire spectrum of trade discovery, execution and post-trade
services," said Abel Clark, managing director, Marketplaces,
Thomson Reuters.
The company said there will be no change to FXall's
organizational structure during the integration planning process,
and FXall will continue to operate with its existing brand,
technology and processes, providing continuity for clients and
guarding against any service disruption.
Write to Eva Szalay at eva.szalay@dowjones.com