Banks invest in future of Traiana with 12% stake
Post-trade processing technology vendor Traiana has sold a 12% stake to seven of its top bank clients, the firm announced yesterday, sending a clear signal of the importance banks are placing on robust post-trade infrastructure under new regulations.
Traiana was acquired by interdealer broker Icap in 2007 for $247 million and the new transaction valued the company at $300 million. Icap will continue to own the majority stake in the business, but the seven banks – Bank of America Merrill Lynch
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