FXall, the leading electronic platform in the foreign exchange market, is set for a new ownership structure. Euromoney has learnt that the ECN’s owners, a consortium of leading FX banks, are locked in discussions about a possible sale of up to 30% of the company to a private equity buyer.
Goldman Sachs has been appointed to run the books on the sale. Two counterparties – both private equity firms – are bidding for the stake.
Bankers involved in discussions about the deal say its completion is some way off. A debate surrounds the amount of stock the bank owners are prepared to unload. Most are in favour of a sale of between 25% and 30% on a pro rata basis, although Euromoney understands that a small number of banks would...
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