The Australian Investment Exchange Limited (AUSIEX) has completed its acquisition of 100 per cent of the issued shares of FIIG Holdings Limited (FIIG), the former’s parent company, Nomura Research Institute (NRI), announced on Tuesday.
According to AUSIEX chief executive Patrick Salis, the deal will allow AUSIEX to expand its product and service suite to accommodate the wider needs of traders, advisers, investors and family offices.
“With this move, AUSIEX expands beyond exchange-traded instruments listed on ASX and Cboe to now also include over-the-counter domestic and international fixed income products via the FIIG platform,” Salis said.
“It will provide local institutions, financial advisers, family offices, SMSF and HNWIs with one of the most comprehensive investments trading and portfolio administration platform in the country.”
Salis added that this development is another sign of AUSIEX’s progress towards its long-term plan to become a market utility platform leveraging NRI’s scale and intellectual property.
“We now look forward to discussing with market participants on how to grow the FIIG offering further through our leading trading platform,” the CEO added.
The acquisition was first announced last month, when AUSIEX and FIIG entered into an agreement to commence the acquisition process.
At the time, FIIG CEO Alex Welch said the acquisition “brings together two culturally and commercially aligned businesses with highly complementary strengths”.
“It marks an exciting step forward in our ambitions to make bonds accessible to Australian investors while continuing to enhance the services we deliver to our clients with even greater capabilities.”
FIIG is currently Australia’s largest fixed income provider with over $5 billion of funds under advice. The business provides investors with direct access to a range of term deposits, bond markets and other cash solutions.
