New York-based Vela Trading Technologies today confirmed that it has completed the acquisition of Direct Market Access (DMA) platform Object Trading, according to an official statement. The financial terms of the sale were not disclosed.
The Object Trading acquisition will expand Vela’s capabilities to include an advanced set of solutions across the entire electronic trading workflow, and will enhance its managed services with multi-asset class coverage and low-latency market access. Vela’s clients will also gain access to additional pre-trade risk controls including drop copy functionality, post-trade processing, trading analytics, a front-end GUI for price discovery, workflow management and order entry.
On the other side, the acquisition will accelerate Object Trading’s growth strategy, providing its clients with access to additional asset classes, trading venues, geographies, low-latency data feeds, and market access products.
This acquisition of Object Trading is part of Vela’s strategic plan to grow its trading technology portfolio. The company announced last month acquisition of futures and options trading and analytics provider OptionsCity.
The newly acquired businesses will be rebranded over the next few months as its products and services are integrated into the Vela portfolio. The merger will leverage technical expertise and market knowledge to support Vela’s client base which includes banks, broker dealers, retail trading firms, investment banks, hedge funds, trading technology software providers, and proprietary trading firms.
Vela Trading, formally SR Labs, is a low-latency feed handler and market data platform provider. The group also caters to a diverse clientele via a comprehensive offering of technology deliverability utilities, trading infrastructure capabilities, and delivery mechanisms.
Jennifer Nayar, CEO of Vela, commented: “I am delighted that we have now completed the Object Trading and OptionsCity acquisitions. We look forward to working with our expanded team, clients, and the marketplace to deliver exceptional client services and an expanded set of innovative technologies and cost-effective solutions as one brand, Vela.”