CLOSE BROTHERS GROUP PLC EXPANDS INTO DERIVATIVES WITH ACQUISITION OF INTEREST IN MAKO
3 October 2007
Close Brothers Group plc (“Close Brothers”), the specialist merchant banking group, is to acquire a 49.9% interest in Mako Global Derivatives Executive, LLP (“Mako”)
, an exchange traded derivatives market making group. The remainder of Mako will continue to be owned by the current management and employees. The consideration includes a further injection of capital by Close Brothers to fund future growth.
Mako’s core activity is trading listed options servicing a broad cross section of the bank and broker community. Mako is a key provider of pricing and liquidity in the main European equity indices (including the Eurostoxx, FTSE, DAX & AEX) and the global fixed income markets (including Bund, Bobl, Schatz, Short Sterling, Euribor and US Treasury options). Additional business lines include Investment Management and Sales Trading.
As a volatility trader, Mako avoids being directly exposed to movements in the underlying fixed income and equity markets. Additionally, Mako has a market making, rather than a positional trading focus, and has developed a specialised range of proprietary software applications, analytical tools and risk management methodologies to enable the
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