Once the target for acquisition, Trading Technologies is now on the lookout for companies it will look to acquire to expand its asset class coverage. Anthony explores what that might mean for the industry.
Once the target for acquisition, Trading Technologies is now on the lookout for companies it will look to acquire to expand its asset class coverage. Anthony explores what that might mean for the industry.
It was nearly a week after Trading Technologies announced it would be acquired by the private equity firm 7RIDGE, along with its limited partners Cboe Global Markets, Inc. and the Singapore Exchange, but the company’s top executives were still celebrating.
Tim Geannopulos was given the job of CEO of Trading Technologies by TT’s majority owner, Harris Brumfield, with one big mandate: find a buyer through a big, robust, competitive and active auction process that discovers the right party to buy the firm and is aligned with the interests of the shareholders, employees and customers. Geannopulos accomplished that goal when the deal for the private equity firm 7RIDGE was announced Sunday as the buyer of TT with the support of SGX and Cboe Global Markets as investors in the fund managed by 7RIDGE.
Trading Technologies International (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, is planning to expand into other asset classes including equities and fixed income, according to forthcoming CEO Keith Todd.
Derivatives connectivity and trading platform operator Trading Technologies International (TT) is to be acquired by 7RIDGE, a London-based private equity firm run by ex-Deutsche Boerse CEO Carsten Kengeter. The deal, for an undisclosed sum, is backed by two of the world’s largest derivatives exchanges, Singapore Exchange (SGX) and Cboe Global Markets.