Bond trading platform MTS, majority-owned by Euronext, has completed the sale of MTS Markets International (MMI), its US subsidiary, to Tradition America Holdings, a subsidiary of interdealer broker Compagnie Financière Tradition.
The decision to sell MMI resulted from a strategic review as the company elected to divest from non-core assets.
MMI operates electronic credit trading system MTS BondsPro, which provides clients with real-time execution capabilities and access to liquidity. It became a part of Euronext as part of the company’s integration of Borsa Italiana in 2021.
The sale comes in the same month Euronext acquired the technology businesses currently powering MTS and Euronext Securities Milan from Italian technology provider Nexi. The transaction was first announced in June.
The transaction, worth €57 million, is expected to strengthen the core operations of MTS, Euronext’s fixed-income trading platform, and Euronext Securities Milan.
