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Virtu Financial to Sell BondPoint to Intercontinental Exchange
- Client News
- October 24, 2017
Paul, Weiss is representing Virtu Financial, Inc. in the sale of its fixed income trading venue BondPoint to Intercontinental Exchange. The transaction is subject to applicable regulatory reviews and approvals. Under the terms of the agreement, Virtu will receive $400 million in cash upon the close of the transaction, the net after-tax proceeds of which will be used to repay a portion of Virtu’s outstanding term loan.
Virtu Financial is a leading technology-enabled market maker and liquidity provider to the global financial markets. BondPoint is a leading provider of electronic fixed income trading solutions for the buy-side and sell-side offering access to centralized liquidity and automated trade execution services through its ATS, linking more than 500 financial services firms.
The Paul, Weiss team includes, among others, corporate partners Jeffrey Marell, John Kennedy and Thomas de la Bastide and counsel Patricia Vaz de Almeida and Stephen Koo; intellectual property partner Chuck Googe; employee benefits counsel Uri Horowitz; and antitrust counsel Marta Kelly.