Rolfe and Nolan quiet on takeover reports for £50m

24 Jul 2008

Market sources say independent software vendor, Rolfe and Nolan, has been acquired by trading software provider, ION Trading. However, the software vendor has refused to comment on the reports.

The deal, which insiders have estimated to be valued at £50m, follows ION Trading’s stake build-up of nearly 30% in fellow independent software vendor, Patsystems.

This has led one industry participant to...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.

Rolfe and Nolan quiet on takeover reports for £50m

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