Refinitiv, a provider of financial markets data and infrastructure, announced on Monday that it has completed its acquisition of AlphaDesk, bringing OMS trading capabilities to the company.
As Finance Magnates reported, the acquisition of AlphaDesk was originally announced in May. Following the transaction being closed, the OMS trading capabilities have been added to Refinitiv’s end-to-end trading workflow solution.
Refinitiv to Integrate AlphaDesk Platform
Post-acquisition, Refinitiv will integrate the AlphaDesk platform, which expands its end-to-end trading solution. AlphaDesk provides order and portfolio management, risk, and compliance solutions for buy-side users, including hedge funds and other investment managers.
Already, the data firm’s front-office suite includes REDI’s EMS platform, which is currently integrated with its pre-trade data and analytics platform Eikon, one of Thomson Reuters’ flagship products.
Legal Risk Factor Beneath Ripple’s Lawsuit from SECGo to article >>
With AlphaDesk, the market data provider will be able to leverage an improved multi-asset class and multi-currency OMS platform with flexible workflows. For individual buy-side traders and asset managers, the platform will be more customizable for their differing needs, as AlphaDesk software combines OMS and operations management capabilities.
Commenting on the acquisition, Michael Chin, managing director, co-head of Trading at Refinitiv said: “We are delighted to welcome AlphaDesk officially to Refinitiv. 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.”
The market data provider went private in October 2018 when Thomson Reuters completed the sale of a majority stake in its financial-and-risk arm to private equity firm Blackstone Group. The purchase cost Blackstone $17 billion, marking the largest non-property deal for the company.
“Refinitiv now delivers an even more powerful buy-side trading solution that is flexible, compliant, interoperable, and covers all segments of the trading workflow,” added Chin.
“As a Cloud-based provider, the integration of 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.”