SYDNEY - 28 Nov 2014
ASX and Yieldbroker today announced that ASX’s investment in Yieldbroker has successfully completed.
A proposal for ASX to acquire a 49% shareholding in Yieldbroker for a total of $65 million was announced on 18 September 2014. The investment makes ASX a shareholder in Yieldbroker alongside ANZ, CBA, Citi, Deutsche Bank, J.P. Morgan, Macquarie, NAB, Royal Bank of Canada, Royal Bank of Scotland, Toronto Dominion, UBS and Westpac, who will remain equal shareholders.
ASX’s 49% stake is non-controlling and Yieldbroker remains independently managed. The investment is funded from ASX’s existing cash and is expected to be broadly EPS neutral in the first full-year.
Mr Elmer Funke Kupper, ASX Managing Director and CEO, said: “We are pleased to finalise the ASX-Yieldbroker partnership. It will allow the companies to work together to bring new services and efficiencies to the Australian market, in both the exchange-traded and OTC environments. Yieldbroker has a strong track record in being innovative and highly responsive to its clients. This makes them a good partner for ASX as we build the next generation of Australia’s financial market infrastructure.”
Mr Richard Swift, Yieldbroker CEO, said: “Yieldbroker is the gateway to Australia’s OTC debt and interest rate derivatives markets. The partnership with ASX has been welcomed by market participants and will allow us to accelerate the expansion of our range of transparent, liquid and competitive services to banks, fund managers, corporates and governments.”
Media – ASX
General Manager, Media and Communications
Tel: +61 2 9227 0218
Mobile: 0411 121 219
Investor Relations/Analysts- ASX
General Manager, Finance
Tel: +61 2 9227 0260
Mobile: 0488 212 755
Media – Yieldbroker
Financial & Corporate Relations
Tel: +61 2 8264 1000
Mobile: 0411 852 448
ASX is one of the world’s leading financial market exchanges, offering a full suite of services, including listings, trading, clearing, settlement and depository, across a comprehensive range of asset classes. As the first major financial market open every day, ASX is a world leader in raising capital, consistently ranking among the top five exchanges globally. In the 2014 financial year, notional turnover in ASX’s A$ interest rate futures market was $42 trillion, ranking it the largest in Asia and among the top five globally. The investment in Yieldbroker is consistent with ASX’s long-term commitment to grow the A$ and NZ$ derivative markets. www.asx.com.au
Founded in 1999 by leading banks in local debt markets, Yieldbroker holds an Australian Market Licence and is regulated by the Australian Securities and Investments Commission (ASIC). It has also received ‘no-action’ relief from the US Commodity Futures Trading Commission (CFTC), allowing it to provide direct access to US persons to transact interest rate swaps on its market. Today, more than 100 major financial institutions access over 800 Australian and New Zealand debt securities and OTC interest rate derivatives on Yieldbroker’s platform, trading approximately $130 billion each month. www.yieldbroker.com