Trading Technologies International, Inc. (TT), a global capital markets technology platform provider, today announced that TT’s acquisition of START, a broker-neutral trade optimization platform, from Abel Noser Holdings, a majority-owned portfolio company of Estancia Capital Partners, is now complete.
This represents the second and final stage of TT’s acquisition “of Abel Noser Solutions, LLC (ANS). TT previously acquired Abel Noser Solutions, the provider of transaction cost analysis (TCA) for investment managers, brokers, asset owners and consultants, from Abel Noser Holdings on August 31, 2023.”
Foley & Lardner LLP acted “as legal advisor to TT. Ardea Partners LP served as financial advisor, and David Solo, TT Board member, led the acquisition negotiation on behalf of the company. Seward & Kissel LLP acted as legal advisor to Abel Noser Holdings.”
As noted in the update, Trading Technologies is “a Software-as-a-Service (SaaS) technology platform provider to the global capital markets industry.”
The company’s TT platform reportedly “connects to the world’s major international exchanges and liquidity venues in listed derivatives alongside a growing number of asset classes, including fixed income and cryptocurrencies.”
The TT platform delivers advanced tools “for trade execution and order management, market data solutions, analytics, trade surveillance, risk management and infrastructure services to the world’s leading sell-side institutions, buy-side firms and exchanges.”
The company’s blue-chip client base “includes the Tier 1 banks as well as brokers, money managers, hedge funds, proprietary traders, Commodity Trading Advisors (CTAs), commercial hedgers and risk managers.”
These firms rely on the TT ecosystem to “manage their end-to-end trading operations. In addition, exchanges utilize TT’s technology to deliver innovative solutions to their market participants.”
TT also strategically partners “with technology companies to make their complementary offerings available to Trading Technologies’ global client base through the TT ecosystem.”
As covered last year, Trading Technologies International, Inc. (TT), a global capital markets technology platform provider, and Abel Noser Solutions, LLC (ANS) announced a definitive agreement for TT “to acquire ANS, the provider of transaction cost analysis (TCA) for investment managers, brokers, asset owners and consultants, from Abel Noser Holdings, a majority-owned portfolio company of Estancia Capital Partners.”
Terms of the transaction, “expected to close on Aug. 31, were not disclosed.”
The acquisition represents TT’s extension “into the multi-asset data and analytics space, further building on its expansion into new asset classes.” In June, TT announced the establishment of a new foreign exchange (FX) business line, TT FX, “following its entry into the fixed income space in March with the acquisition of AxeTrading.” TT claims it “has long been a leader in technology solutions for listed derivatives.”