Deutsche Boerse eyes possible bid for FX platform 360T-source

By Andreas Kröner

FRANKFURT, June 15 (Reuters) - Deutsche Boerse (Xetra: 63DA.DE - news) is looking at the possibility of buying currency trading platform 360T, a source familiar with the situation said on Monday, although it was not yet clear if the German exchange operator will place a binding bid.

Deutsche Boerse declined to comment on whether it was bidding, while 360T, one of a handful of multi-bank, multi-user platforms which have revolutionised foreign exchange trading over the past decade, was not immediately available to comment.

"Deutsche Boerse group regularly looks at external options for growth and follows up on them if they create value," a spokesman for the German exchange operator said.

Two people familiar with the matter told Reuters last week that U.S. private-equity firm Summit Partners is selling the Frankfurt-based platform in a potential 600 million euro ($675 million) deal and had hired Jefferies to handle the sale.

Discussions are already advanced and a deal may be struck before the summer break, those sources said, declining to give details of which parties were interested.

Deutsche Boerse's new Chief Executive Carsten Kengeter has said he would not rule out either bolt-on or large acquisitions as the exchange operators reviews its business targets and prospects. (Writing by Patrick Graham; Editing by Alexander Smith and David Holmes)