NEX Group, the financial technology company that is in advanced negotiations to be acquired by CME Group, has announced NEX Giving Day, its charity day to be held on 7 June 2018.At NEX Giving Day, the company will be donating all its revenue for the day, approximately £2 million ($2.8 million), to 43 charitable causes worldwide which were nominated by NEX employees. Events will take place at NEX offices in London, New York, Singapore, Tel Aviv and Stockholm.
Michael Spencer, Chief Executive Officer of NEX Group, commented:
“Since we launched the first Charity Day 26 years ago, this has always been the most important date in the calendar for us. It is the one day each year when all of our clients, suppliers, and colleagues around the world come together, pooling their collective energy, passion, and determination with one goal in mind: to give money to deserving causes. This day reflects our values and our culture. Its scale and impact over the years have exceeded even our greatest hopes, and hundreds of thousands of lives have been improved and saved because of the treatments, research, and education which everyone’s generosity has funded. We are very excited about the new NEX Giving Day.”
At the event, each charity, supported by celebrity patrons, will pitch to the audience to convince people to vote for their project to receive a significant additional donation. NEX’s clients, vendors and market participants will join the event.
The charities participating in NEX Giving Day in London include Missing People, Ovarian Cancer Action, Spinal Research & Rooprai Spinal Trust, West Ham United Foundation, Blue Marine Foundation, and Juvenile Diabetes Research Fund.
NEX Group has recently made the headlines for confirming a report of CME Group’s takeover bid of $5.4 billion. The CME group’s offer is 49 percent higher than the London-based NEX’s closing price on March 15, before the first news broke out of the possible acquisition.
Michael Spencer, Chief Executive Officer of NEX Group, owns an 18 percent stake in the company and stands to make about £670 million ($939 million) from the deal.
The company was formerly known as ICAP. The rebranding took place after Tullett Prebon bought its voice trading business for £1.3 billion ($1.6 billion) in 2016.
