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Cboe Global Markets and Singapore Exchange (SGX) are backing a consortium acquisition of Chicago-based fintech Trading Technologies.
The Chicago options market and SGX said they will be limited partners in the 7Ridge fund that is acquiring TT, according to announcements on October 31.
Cboe did not disclose the terms of the deal beyond saying it would be funded by a combination of cash and debt. SGX said it would invest around $200 million (£146m) in the closed ended fund set-up for the acquisition.
“Together with other independent software vendors, Trading Technologies has been a long-term partner of SGX, serving our global derivatives customers with its front-end workflow and connectivity solutions,” Loh Boon Chye, chief executive...