Deals
The Hottest Bet for Exchanges Is Invading Currencies Market
Currency exchange rates are reflected in a window in Buenos Aires, Argentina, on Feb. 12, 2014.
Photographer: Diego Levy/BloombergThis article is for subscribers only.
For exchanges that historically stuck to stocks and futures contracts, the hottest new bet is challenging banks’ dominance in currency trading.
Deutsche Boerse AG, which runs the Eurex futures exchange and Xetra stock market, joined the battle on Sunday with the 725 million euro ($793 million) purchase of currency market 360T. Its decision came six months after Bats Global Markets Inc., a stocks and options specialist, waded into the business by spending $365 million on Hotspot FX.