Cheaper unit settlement promised by IT merger

EMX is the platform used to deliver buy and sell orders from fund managers, while CREST is the system used in the UK and elsewhere for settling securities transactions, such as buy and sell orders of stocks listed on the London Stock Exchange. The acquisition deal, thought to be worth about £24m, has involved negotiations with the lead shareholders in EMXCo - Fidelity International, Hargreaves Lansdown, Invesco Perpetual, M&G, Skandia and Threadneedle – which together own an estimated 88.6% of the company. The remainder is owned by EMXCo managers and other investors. Euroclear will look...