Refinitiv, a provider of financial markets data and infrastructure that has served more than 40,000 institutions in over 190 countries, recently announced it has acquired AlphaDesk, a cloud-based Order Management System (OMS) that offers order and portfolio management, risk, and compliance solutions for buy-side clients.
Refinitiv reported that it currently offers pre-trade data and analytics via its flagship financial platform Eikon, which is integrated with its EMS trading capabilities from REDI. AlphaDesk notably adds a multi-asset class and multi-currency OMS platform with flexible workflows, adaptable to the differing needs of individual buy-side traders and asset managers.
While sharing details about the acquisition, Michael Chin, Managing Director and Co-Head of Trading at Refinitiv, stated:
“Our past collaboration with AlphaDesk makes them a strong fit for us, and the integration of their platform with our existing products further expands Refinitiv’s presence as a premier trading solution for professionals across the buy-side community. With the acquisition of AlphaDesk, Refinitiv now delivers an even more powerful buy-side trading solution that is flexible, compliant, interoperable, and covers all segments of the trading workflow. As a Cloud-based provider, AlphaDesk further aligns with Refinitiv’s overall Cloud strategy, and will help provide a more seamless path to implementation and integration yielding significant cost-savings and agility for our clients.”
Dan Rissin, CEO, AlphaDesk.
“We are very excited about joining the Refinitiv team. There is great potential to provide hedge funds and asset managers what they have been asking for: a simpler way to acquire and manage better technology. The combination of our front-to-back, cloud-based system with Refinitiv’s global reach and extensive technology platform will help provide a truly superior offering to clients all over the word.”
Refinitiv added it expects the acquisition to close in the second quarter.