Vinter is a benchmark management company registered with the European Securities and Markets Authority (ESMA) and is listed on the Swiss stock exchanges SIX, Nasdaq, Euronext and Dow Jones Industrial Average.
It supports exchange-traded products (ETPs) traded on exchanges such as the German Stock Exchange (Deutsche Boerse Xetra).
Kaiko supports the derivatives industry by serving exchanges such as CBOE, Gemini, EDX and Bitwyre.
The two companies already have a strong collaboration and this acquisition will further strengthen their market position and provide better services to asset management and "sell-side" participants.
The combined coverage of Kaiko and Bitter will create value through synergies between the derivatives and asset management ecosystems.
"The combination of Kaiko and Bitter will enable a new generation of cryptocurrency data and indexing solutions," said Bitter CEO Jacob Lindberg.
"This will create an undisputed leader in the market," he said. The purchase price for Bitter was not disclosed, but Reuters reported that the deal values Kaiko at $200 million, or roughly 31% of its assets.
Kaiko CEO Ambre Soubiran described the Bitter acquisition as a "clear bet on the European ETP market."
According to the report, the German, Swedish and Swiss ETP markets managed around $13.64 billion in assets, compared with the US ETP market of around $88.78 billion.
This compares to the asset management scale of Kaiko, which is equivalent to approximately 13.7694 trillion yen. Bitter is Kaiko's third and largest acquisition. Kaiko is expected to acquire 1.2 trillion yen in the cryptocurrency market in 2022.
It also acquired Kesitys, a company that provides quantitative decision-making tools for optimization, and a few months later acquired Napoleon from European alternative asset manager CoinShares.
The company acquired Index. The Silkworm Index was launched at the same time as the acquisition of Napoleon Index.
2024/11/13 16:19 KST
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