Trading Technologies enhances buy-side appeal with Abel Noser Solutions acquisition
Trading Technologies, a Software-as-a-Service (SaaS) tech provider to the global capital markets industry based in Chicago, is set to acquire Abel Noser Solutions (ANS) for an undisclosed sum as it continues to explore new asset classes.
Trading Technologies to acquire ANS
ANS provides investment managers, brokers, asset owners and consultants with pre-trade, real-time and post-trade transaction cost analysis products as the fintech subsidiary of Abel Noser Holdings, which itself is majority-owned by Estancia Capital Partners.
Having acquired AxeTrading, a provider of fixed income trading solutions, in March of this year, followed by the launch of its foreign exchange business unit TT FX in June, Trading Technologies’ latest takeover of ANS represents the next step in its entry into the fixed income space.
In providing transaction cost analysis (TCA) products to both buy-side and sell-side firms, ANS has become specialised in a range of asset classes, including global equities, FX, futures, fixed income and options. The company also offers compliance reporting, trade surveillance and algorithmic trading solutions, all of which will now be held under Trading Technologies’ remit, with each company’s services and functionality being made available to the other’s clients.
Trading Technologies CEO Keith Todd anticipates that the acquisition will enhance the company’s appeal to buy-side firms, and that the “wealth of anonymised data” will “fortify” the diversification of its offering.
Todd explains: “We intend to introduce the tools into the listed derivatives space through our vast client base, build on Abel Noser’s FX TCA capabilities as we roll out our new TT FX initiative, and offer the firm’s clients the full breadth of TT services available.”
Adding to this, Peter Weiler, CEO of Abel Noser, describes the move as “strategic” and “a significant milestone in our company’s history”. He goes on to recognise how it will enable his company to “leverage the global reach of TT to better serve our customers and offer broader opportunities to our employees and partners”.
The deal, which is expected to close on 31 August and will not include the brokerage Abel Noser LLC, will also be succeeded by Trading Technologies’ acquisition of START, a broker-neutral trade optimisation platform, from Abel Noser LLC, which is due to be completed “by the first quarter of 2024”.
