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Exchanges Invade Currency Market

Acquisition of 360T illustrates that exchanges which formerly specialized in stock and futures trading now want to move into currencies as well.

By John Detrixhe, Bloomberg | Updated on July 27, 2015

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 (US$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.

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