Trading Technologies International (TT), which is now owned by 7RIDGE, announced on Tuesday the acquisition of RCM-X, a technology provider of algorithmic execution strategies and quantitative trading products.
In addition, the acquisition includes the team at RCM-X, who will now become a part of Trading Technologies. However, the companies did not reveal the other terms of the deal.
“We are moving full speed ahead on our strategic plan, and with this acquisition , have already further expanded the TT trading platform capability within the first three months of 2022,” said Keith Todd, the CEO of Trading Technologies.
Strengthening Presence in the Trading Industry
RCM-X’s offerings include a broad range of algorithmic execution strategies, along with trade analytics and independent transaction cost analysis (TCA) solutions. Moreover, it provides back-testing and simulation services.
“This acquisition of RCM-X, with its outstanding team, best-in-class execution tools, and superior performance, reflects our commitment to continually broadening our offering. Not only will we make the full suite of popular RCM-X products available to every TT user, but access will be seamless as we fully integrate the service into the TT platform,” Todd added.
Trading Technologies was acquired by the growth equity firm, 7RIDGE, last December. The latest deal is the first acquisition of Trading Technologies since the change of its ownership.
“We’re extremely proud of what we’ve built and accomplished over the years and excited to bring our unique product suite, innovative technology and talented staff to an entirely new level as part of Trading Technologies,” said Joe Signorelli, RCM-X’s CEO.
“TT is deeply embedded in the culture and daily operations of so many firms, and its market access across the globe aligns optimally with both our current footprint as well as the growth of our execution algo business and software distribution. TT clients will soon be able to use and provide their own customers with a breadth of advanced execution algorithms, comprehensive trade analytics and independent TCA services from the TT platform they use every day.”
