7RIDGE Agreed to Acquire Chicago-Based Trading Technologies
- Cboe and SGX are limited partners in the acquisitions deal.
Specialized growth equity firm, 7RIDGE announced on Sunday that it has entered into an agreement to acquire Trading Technologies International, which is a provider of trading software, connectivity and data solutions.
With the acquisition, the new owner will aim for organic growth of the platform and has plans to make targeted strategic acquisitions in the future through the subsidiary.
Two of the top Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term operators, Cboe Global Markets (Cboe) and Singapore Exchange (SGX) have participated in the deal as limited partners. Both of them will support the transaction by making partial investments in Trading Technologies.
SGX is prepared to invest around $200 million in the private equity firm for the purpose of the acquisition, while Cboe’s upcoming contribution amount is not known yet. The Chicago-based exchange operator is planning to fund the acquisition with cash in hand and with increased debt in the fourth quarter of the ongoing fiscal.
A SaaS Platform
“We've been in search of the right strategic partner to help Trading Technologies achieve the tremendous potential of our pioneering new technology platform and accelerate the expansion of the business and product roadmap,” said Tim Geannopulos, Chairman and CEO of Trading Technologies.
Though the company will continue to operate independently even after the acquisition, the new owner has plans to change the leadership. Keith Todd, who comes with two decades of financial markets leadership experience, is expected to be the new Trading Technologies CEO.
“The firm has an aggressive roadmap for product and market expansion,” said Todd. “I have long been a firm believer in the power of SaaS to deliver to clients better technology, greater cost savings and more efficient use of resources.”
Specialized growth equity firm, 7RIDGE announced on Sunday that it has entered into an agreement to acquire Trading Technologies International, which is a provider of trading software, connectivity and data solutions.
With the acquisition, the new owner will aim for organic growth of the platform and has plans to make targeted strategic acquisitions in the future through the subsidiary.
Two of the top Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term operators, Cboe Global Markets (Cboe) and Singapore Exchange (SGX) have participated in the deal as limited partners. Both of them will support the transaction by making partial investments in Trading Technologies.
SGX is prepared to invest around $200 million in the private equity firm for the purpose of the acquisition, while Cboe’s upcoming contribution amount is not known yet. The Chicago-based exchange operator is planning to fund the acquisition with cash in hand and with increased debt in the fourth quarter of the ongoing fiscal.
A SaaS Platform
“We've been in search of the right strategic partner to help Trading Technologies achieve the tremendous potential of our pioneering new technology platform and accelerate the expansion of the business and product roadmap,” said Tim Geannopulos, Chairman and CEO of Trading Technologies.
Though the company will continue to operate independently even after the acquisition, the new owner has plans to change the leadership. Keith Todd, who comes with two decades of financial markets leadership experience, is expected to be the new Trading Technologies CEO.
“The firm has an aggressive roadmap for product and market expansion,” said Todd. “I have long been a firm believer in the power of SaaS to deliver to clients better technology, greater cost savings and more efficient use of resources.”