“It’s a strategic move for them ,” explained Jez Bezant, RFQ-hub’s head of business development. “They’ve slowly been moving towards this area for a while now. They’re a good company, quite neutral from an independence point of view, but obviously also a good partner in terms of synergies.”

Deutsche Börse is to acquire a minority stake in RFQ’s parent company ID’s for no more than €9m.

RFQ-hub provides a software system enabling asset managers to post multi-dealer, bilateral requests for quotes on cash equities and derivatives. The service went live in April 2009 and is supported by more than 10 of the largest equity derivatives dealers and brokers.

The German exchanges group, operator of Eurex, Europe’s largest futures exchange, was at the head of a long list of suitors, Bezant revealed. Deutsche Börse hopes the move offers scope to extend its provision of pre-trade price transparency services for institutional investors across its equity and derivatives markets.