Trading

Intercontinental Exchange buys Euroclear stake from RBS for €275m

The Belgian settlement house had been touted as a potential takeover target for ICE's London rival

Intercontinental Exchange buys Euroclear stake from RBS for €275m
Photo: Getty Images

Intercontinental Exchange has agreed a €275m deal with Royal Bank of Scotland Group that will give the Atlanta-based company a stake in a critical piece of European financial market infrastructure.

ICE said in a statement on Tuesday that it had bought a 4.7% stake in Euroclear for €275m. In a separate statement, RBS confirmed that it had agreed to sell its entire stake in the Belgium-headquartered settlement house, which is co-owned by more than 100 banks and financial institutions.

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