MarketAxess (MKTX) said Monday it completed a majority stake acquisition in RFQ-hub to support the global expansion of the exchange-traded fund and derivative platform.
The company acquired a 90% controlling stake in RFQ-hub Holdings, which is a consortium created in 2022 to support the growth of the request-for-quote platform, according to a statement.
Financial terms weren't disclosed.
The consortium's founding partners, including BlackRock (BLK), Citadel Securities and Jane Street Capital will retain a minority stake in the entity under the new ownership structure, the company said.
Shares of MarketAxess were down 3.8% in recent trading.
Price: 222.25, Change: -8.84, Percent Change: -3.83
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