Deutsche Börse’s private tender offer for the shares in Cedel International has reached the two-thirds majority that was a precondition for the closing of the transaction. The offer values Cedel’s 50 percent stake in the settlement house Clearstream International at 1.6 billion and Cedel’s remaining assets at 0.14 billion Euro. Preparations for the integration of Clearstream into Deutsche Börse Group are ‘progressing on schedule’. Assuming satisfaction of the outstanding conditions and completion of the offer, Deutsche Börse and Clearstream anticipate that the integration will be completed by early 2003. Deutsche Börse and Clearstream will create a full service provider for the securities industry ‘setting the standard for ‘straight-through processing’ by optimally coordinating and fine-tuning all systems for trading, clearing and settlement’.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.