Deutsche Börse Group’s $100 Million Acquisition of GAIN Capital’s GTX ECN Business

Davis Polk is advising GAIN Capital Holdings, Inc. on the $100 million sale of its GTX ECN business, an institutional platform for trading foreign exchange, to Deutsche Börse Group via its FX unit, 360T.

The transaction, which is expected to close in the second quarter of 2018, is subject to customary closing conditions.

GAIN Capital provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes. GAIN initially launched GTX in 2010 as a venue for trading in FX and precious metals by institutional investors. As a diversified exchange organization, Deutsche Börse Group’s products and services cover the entire value chain in the financial services sector.

The Davis Polk corporate team includes partner Leonard Kreynin (Picture) and associate Arthi Sridharan. Partner Rachel D. Kleinberg and associate Anne E. McGinnis are providing tax advice. Partner Kyoko Takahashi Lin and associate Timothy John Durbin are providing executive compensation advice. Partner Frank J. Azzopardi and associate Tilak Koilvaram are providing intellectual property and technology advice.

Involved fees earner: Leonard Kreynin – Davis Polk & Wardwell; Arthi Sridharan – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; Anne McGinnis – Davis Polk & Wardwell; Kyoko Takahashi Lin – Davis Polk & Wardwell; Timothy John Durbin – Davis Polk & Wardwell; Frank Azzopardi – Davis Polk & Wardwell; Tilak Koilvaram – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: GAIN Capital Holdings, Inc.;


Author: Ambrogio Visconti