Trading Technologies (TT), a Chicago, IL-based global capital markets technology platform provider, acquired Ateo, a Paris, France-based provider of post-trade solutions for listed derivatives.
Terms of the transaction, expected to close on 29/02/2024, were not disclosed.
The two firms entered into a strategic partnership in late 2022 to deliver a fully integrated, comprehensive post-trade allocation service for sell-side banks, brokers and futures commission merchants (FCMs). The acquisition brings Ateo’s full line of middle-office solutions into the TT infrastructure. ATEO will operate as a global managed service hosted in TT’s data centers. Its post-trade allocation engine is already fully integrated into the TT order management system (OMS), providing TT OMS clients with seamless access to the functionality.
Led by Laurent Courbin, Founder and CEO, and David Romeo, Managing Director, Ateo delivers post-trade solutions for the financial industry, including a global blotter, clearing and matching system, and extensive market connectivity. Products include:
- TEO Derivatives, a global order management system dedicated to pure brokerage environments and used by many of the world’s leading inter-dealer and executing brokers, including the vast majority of brokers in London;
- the LISA Clearing Engine, a trade matching and clearing solution enabling firms to process business across all clearing houses globally and offer tailored services to their customers; and
- UGO, a set of gateways and standardized clearing application programming interfaces (APIs) providing firms with the ability to develop or feed in-house solutions through scalable trade feed standardization and high throughput for all clearing activities.
Banks, trading houses and professional traders have been using its technology since its creation in 2000.
Led by CEO Keith Todd, Trading Technologies is a Software-as-a-Service (SaaS) technology platform provider to the global capital markets industry. Its TT® platform connects to international exchanges and liquidity venues in listed derivatives alongside a growing number of asset classes, including fixed income and cryptocurrencies. The platform delivers advanced tools for trade execution and order management, market data solutions, analytics, trade surveillance, risk management and infrastructure services to the world’s leading sell-side institutions, buy-side firms and exchanges. The company’s blue-chip client base includes the Tier 1 banks as well as brokers, money managers, hedge funds, proprietary traders, Commodity Trading Advisors (CTAs), commercial hedgers and risk managers. These firms use the TT ecosystem to manage their end-to-end trading operations. In addition, exchanges utilize its technology to deliver innovative solutions to their market participants.