Deutsche Börse acquire multi-million pound stake in R5FX
24th November 2014
Deutsche Börse have purchased a minority stake for an amount in the ‘single digital millions’ in Level39 member company R5FX.
R5FX are a financial exchange firm that specialise in emerging currencies.
The company are currently developing a new interbank liquidity pool for eNDFs and EMFX that helps forex companies comply with forthcoming regulation.
As part of the new rules, foreign exchange traders are obliged to change their trading channels for the BRIC, N-11 and other emerging market currency pairs.
Brendan Bradley, Chief Innovation Officer at Deutsche-Börse was keen to highlight the group’s work with other startups, “Our investment in R5 highlights our focus on using innovation to drive our growth whilst expanding our footprint in the changing FX market place. Deutsche Börse has already developed partnerships with startups and has simultaneously invested into exchange infrastructure in a number of developing countries in the recent past.”
Jon Vollemaere, CEO of R5FX and Level39 & ClubLounge39 member, was understandably very pleased with the news, “We are extremely pleased to announce this investment from such a strategically important partner and view this as a clear endorsement of our vision and business model. By leveraging our collective strengths, and working with our bank supporters, we intend to establish R5 as one of the most significant participants in the increasingly changing FX environment”
More detail on the deal here, and you can gauge the level of excitement below(!)