KPMG Brokerage M&A Monthly


June 2010	SEARCH ANALYSIS ARCHIVE FEEDBACK

KPMG ANALYSIS

Financial Services Executives Survey: Executives Bullish on Recovery

Despite uncertainties surrounding impending financial reform, financial services executives are optimistic about business prospects and are investing for long-term growth, including through mergers and acquisitions.

Center of Attention! - Focusing on New Strategies

As markets continue to recover from the financial crisis, it is imperative that customer centricity is at the core of new and developing strategies.

Middle Market Companies Focus on Global Expansion

In order to gain insight into how middle market companies are approaching the opportunities and challenges of international expansion, KPMG conducted a survey of middle market executives.

Feature of the Month

Democrats Make Final Push on Financial Reform

Senate Democrats postponed a final vote on a landmark overhaul of financial regulations as they scramble for crucial support from a handful of moderate Republicans.

NEWS FROM REUTERS

CBOE IPO Prices at Top of Range

North America's last major unlisted financial exchange priced shares in its IPO at the top of the expected range, signaling investor demand in what has been a rocky market for new U.S. issues.

Nomura in Pursuit with MBK

Japan's top brokerage is contemplating joining private equity firm MBK in its pursuit of the $3.5 billion Korea Exchange Bank stake up for sale.

Warsaw Bourse to Get Platform from NYSE Euronext

The Polish operator has chosen NYSE Euronext for buying its new trading system.

Other News

Bolstering Marketwide Circuit Breakers

Equity exchanges plan to introduce a stock-by-stock circuit breaker and update the existing ones for the Dow Jones Industrial Average by reducing the loss needed to trigger a halt.

SEC Revives Proposed Central Database for Trading Data

INSTITUTIONAL INVESTORThe proposal would require brokers to assign large traders an identification number that would enable the creation of a database that can track market moving activity.

INDUSTRY M&A ACTIVITY

Lightspeed Financial agreed to acquire Terra Nova Financial, a Chicago- based provider of online brokerage services, from Terra Nova Financial Group, for $22.6 million in cash and $5 million in promissory notes. (6/16)

J.P. Morgan and First Capital Securities agreed to establish a securities joint venture to operate in the Chinese domestic market, in which First Capital will have a 67 percent stake and J.P. Morgan will have the remaining 33 percent stake in the new entity. (6/9)

Source: Company press releases.

MERGER STATISTICS

Deal value decreased dramatically during LTM 2010 as compared to LTM 2009, due to the absence of major deals such as Bank of America's $48.8 billion acquisition of Merrill Lynch in September 2008.

View data detail.

KPMG’S TRANSACTION SERVICES PRACTICE

KPMG’s Transaction Services and M&A Tax practices comprise over 600 partners and professionals in the United States, solely devoted to providing acquisition and divestiture support and advisory services to strategic and financial investors.

For more information about KPMG's transaction services capabilities in the brokerage sector please contact: Miguel Sagarna, Principal at 212 872 5543 (msagarna@kpmg.com) or Ram Menon, Managing Director at 212 954 3448 (rammenon@kpmg.com).

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