smartTrade Acquires FX SaaS Provider TickTrade
- The companies have merged into a combined entity under the smartTrade brand.
smartTrade Group, which is a multi-asset electronic trading solution provider, announced its acquisition of Toronto-based TickTrade Systems on Monday that offer FX trading and Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term SaaS solutions for financial institutions.
The acquisition is very strategic as both the companies provide Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term management solutions and FX trading systems. Now, TickTrade will integrate and operate within its parent, thus smartTrade’s connectivity, aggregation and risk management technology will be complemented with TickTrade’s analytics, payments and rich advanced distribution technology.
“For both smartTrade and TickTrade customers, the combination is extremely compelling. It brings two industry-leading technologies together, one complementing the other, creating a unique breadth and depth of product capabilities,” said David Vincent, smartTrade’s Co-Founder and CEO.
However, the companies did not disclose the financials involved in the deal.
Same Management
Under the acquisition agreement, Vincent will lead the combined organization as the CEO, while TickTrade Co-Founders, Baha Ohcebol and Alexander Culiniac, will take senior management roles and remain significant investors in the group.
However, the majority investor in the combined entity will be software and services investor Hg, which has been backing smartTrade since 2020, along with two other long-term investors, Keensight and Pléiade Venture.
“This is great news for TickTrade customers,” Ohcebol said. “To have the backing of smartTrade and Hg means we can significantly build on and continue to innovate the products we know our clients highly value. This also offers further opportunities for product collaboration, wider distribution and cutting-edge innovation, meaning we can bring even better services to even more clients.”
“This is great news for TickTrade’s customers, who have supported us, and for employees who have worked so hard to build the business to this stage since we first founded TickTrade back in 2013,” Culiniac added.
smartTrade Group, which is a multi-asset electronic trading solution provider, announced its acquisition of Toronto-based TickTrade Systems on Monday that offer FX trading and Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term SaaS solutions for financial institutions.
The acquisition is very strategic as both the companies provide Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term management solutions and FX trading systems. Now, TickTrade will integrate and operate within its parent, thus smartTrade’s connectivity, aggregation and risk management technology will be complemented with TickTrade’s analytics, payments and rich advanced distribution technology.
“For both smartTrade and TickTrade customers, the combination is extremely compelling. It brings two industry-leading technologies together, one complementing the other, creating a unique breadth and depth of product capabilities,” said David Vincent, smartTrade’s Co-Founder and CEO.
However, the companies did not disclose the financials involved in the deal.
Same Management
Under the acquisition agreement, Vincent will lead the combined organization as the CEO, while TickTrade Co-Founders, Baha Ohcebol and Alexander Culiniac, will take senior management roles and remain significant investors in the group.
However, the majority investor in the combined entity will be software and services investor Hg, which has been backing smartTrade since 2020, along with two other long-term investors, Keensight and Pléiade Venture.
“This is great news for TickTrade customers,” Ohcebol said. “To have the backing of smartTrade and Hg means we can significantly build on and continue to innovate the products we know our clients highly value. This also offers further opportunities for product collaboration, wider distribution and cutting-edge innovation, meaning we can bring even better services to even more clients.”
“This is great news for TickTrade’s customers, who have supported us, and for employees who have worked so hard to build the business to this stage since we first founded TickTrade back in 2013,” Culiniac added.