ASX Limited (ASX:ASX) has offered to buy a 49 per cent stake in Yieldbroker.
The operator of the Australian Securities Exchange is set to pay $65 million for the non-controlling stake in the electronic trading platform.
The company would join investors including ANZ, Commonwealth Bank and Deutsche Bank in having an interest in the company which, among other services, operates electronic markets for trading debt securities and interest rate derivatives.
CEO Elmer Funke Kupper says exchange-traded and OTC derivatives markets are experiencing considerable change globally and that the proposal offers another way for ASX to improve liquidity and provide efficiencies.
ASX reported a net profit of $383 million in the 2014 financial year.
