In an effort to expand its Market Data & Analytics segment, Deutsche Borse has acquired U.S. financial news service Need to Know News, a provider of machine-readable news for algorithmic trading.
Need to Know News will become a subsidiary of Market News International, a Deutsche Borse Group company.
In a statement, Holger Wohlenberg, Managing Director of Deutsche Borse Market Data & Analytics, said, “The acquisition of Need to Know News reflects our growth strategy with globally relevant information for algorithmic traders. We see an increasing demand from market participants pursuing automated trading strategies to integrate financial news and other event data into their algorithms, in addition to real-time market data.”
Deutsche Borse aims to combine its development of ultra high-speed data feeds with content provided by Market News International.