The acquisition follows the ASX’s announcement in September 2014 that it would acquire a 49 per cent shareholding in the interest rate exchange provider for $65 million.
“ASX's 49 per cent stake is non-controlling and Yieldbroker remains independently managed,” a statement from the ASX said.
“The investment is funded from ASX’s existing cash and is expected to be broadly EPS neutral in the first full year,” the ASX said.
“[This] 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,” it said.
Commenting on the completion of the acquired shareholding, ASX managing director and chief executive Elmer Funke said the shareholding “will allow” the companies to bring “new services and efficiencies” to the Australian market in both “exchange-traded and OTC environments”.
“This makes them a good partner for ASX as we build the next generation of Australia’s financial market infrastructure,” Mr Funke said.
Yieldbroker chief executive Richard Swift said the partnership with the ASX has been “welcomed by market participants”.
“[The partnership] will allow us to accelerate the expansion of our range of transparent, liquid and competitive services to banks, fund managers, corporates and governments,” Mr Swift said.
