360 Treasury Systems, Europe's largest independent currency and fixed income trading platform, has announced a majority investment from US private equity firm Summit Partners, becoming the latest independent FX platform to receive a strategic interest from bigger market players.

Summit will become the German platform's largest shareholder, while 360T chief executive Carlo Koelzer will retain a significant stake. The transaction is subject to approval from BaFin, the German regulator, as well as the German Cartel Office.