Euroclear is to acquire Xtrakter, the capital markets services division of trade association ICMA.
Euroclear is to acquire Xtrakter, the capital markets services division of trade association ICMA. Euroclear and ICMA signed an agreement whereby Euroclear SA/NV will acquire the ICMA subsidiary.
Xtrakter will complement the OTC trade matching and routing service (ETCMS) offered by Euroclear. By the end of 2009, trade data already input into the TRAX system will be processed straight through to settlement at Euroclear, thereby eliminating trade matching duplication, reducing settlement fails, costs and risks.
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