Euromoney Institutional Investor PLC is to acquire FastMarkets Ltd. On completion, Euromoney expects to make a cash payment of approximately £13m for the business.
FastMarkets is a provider of real-time metals market information. It will become part of Euromoney’s portfolio of digital pricing products that include Metal Bulletin and American Metal Market.
Established in 1999, FastMarkets is used by non-ferrous and precious metals traders and risk managers as a workflow tool. Through its online platform, it provides over 120 proprietary price assessments, combined with exchange data including futures prices from the world’s largest commodity exchanges such as the LME and the CME. It provides coverage of non-ferrous physical premiums plus supporting treasury data supported by market commentary including webcasts directly from the LME floor. It also delivers daily technical and fundamental reports to its users.
Metal Bulletin’s Managing Director Raju Daswani said: “FastMarkets is an excellent business that perfectly complements Metal Bulletin’s portfolio of price reporting and information products. Recent volatility in base metal markets has highlighted the need for high-quality price reporting on the physical metal markets to supplement the price discovery function of the world’s commodity futures exchanges. This acquisition complements Metal Bulletin and extends Euromoney’s global coverage of metals markets.”
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