Federated will pay £246m for a 60% interest.

Esma analysis of $200tn market will assess the impact of MiFID II.

Most funds are managed cross-border using passporting rights.

From The Markets

CME to Acquire NEX

NEX CEO Michael Spencer will remain as a special adviser.

UK authorisation will be needed by end of implementation period.

Euronext Dublin becomes one of the six core countries of the exchange.

Kay Swinburne pushes free trade agreement for financial services.

The exchange's interest rate franchise has seen a strong start to 2018.

Lack of a consolidated tape and cost of market data were raised.

Only 37% of UCITS funds are sold in more than three EU member states.