TP ICAP Acquires ClearCompress for £750,000
- The inter-dealer broker gave the firm £500,000 in funding earlier this year
TP ICAP released a document via the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term this Monday, saying that it has acquired ClearCompress - a London-based technology company that reduces trading costs via compression services.
ClearCompress' management team, founders and early-stage investors were responsible for the sale to the inter-dealer broker. David Hill, the company's CEO, will remain with the firm alongside key staff members.
TP ICAP will pay £750,000 ($932,00) in cash for ClearCompress over the next two years. Performance-related 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 will also be made to the sellers for the next six years in either cash or shares.
"As ClearCompress enters the next phase in its development, we are looking forward to being a part of the TP ICAP Group which will enable us to accelerate our client reach, develop new products and expand internationally," said Hill.
"Our partnership with TP ICAP and the solutions we deliver have been well received by clients and we are enthusiastic and confident about what more we can do in the future."
New acquisition, old partners
As Hill's comments suggest, TP ICAP and ClearCompress have worked together already.
The two companies have been collaborating since 2017, with ClearCompress providing its development and algorithmic expertise to the inter-dealer broker.
In March of this year, TP ICAP invested £500,000 in the firm and provided it with access to clients via its regulatory licensing.
"The acquisition of ClearCompress is in line with our strategy to broaden our customer service offering," said TP ICAP CEO Nicolas Breteau.
"The compression runs we have conducted demonstrate excellent outcomes for our clients. We are delighted to welcome this innovative company with its expertise in algo-driven capital optimisation solutions to our group and we are excited to move forward and grow the business together."
TP ICAP released a document via the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term this Monday, saying that it has acquired ClearCompress - a London-based technology company that reduces trading costs via compression services.
ClearCompress' management team, founders and early-stage investors were responsible for the sale to the inter-dealer broker. David Hill, the company's CEO, will remain with the firm alongside key staff members.
TP ICAP will pay £750,000 ($932,00) in cash for ClearCompress over the next two years. Performance-related 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 will also be made to the sellers for the next six years in either cash or shares.
"As ClearCompress enters the next phase in its development, we are looking forward to being a part of the TP ICAP Group which will enable us to accelerate our client reach, develop new products and expand internationally," said Hill.
"Our partnership with TP ICAP and the solutions we deliver have been well received by clients and we are enthusiastic and confident about what more we can do in the future."
New acquisition, old partners
As Hill's comments suggest, TP ICAP and ClearCompress have worked together already.
The two companies have been collaborating since 2017, with ClearCompress providing its development and algorithmic expertise to the inter-dealer broker.
In March of this year, TP ICAP invested £500,000 in the firm and provided it with access to clients via its regulatory licensing.
"The acquisition of ClearCompress is in line with our strategy to broaden our customer service offering," said TP ICAP CEO Nicolas Breteau.
"The compression runs we have conducted demonstrate excellent outcomes for our clients. We are delighted to welcome this innovative company with its expertise in algo-driven capital optimisation solutions to our group and we are excited to move forward and grow the business together."