Digital asset firm Laser Digital snaps up Elysium Technology Group
Elysium Technology Group, a provider of post-trade solutions for the foreign exchange (FX) and digital asset industries, has been acquired by Nomura’s Swiss digital assets subsidiary, Laser Digital, with the transaction set to close imminently.
Laser Digital acquires Elysium Technology Group
Following the acquisition, the company will be renamed Elysium LD Technology, Inc., operating as an affiliate of Laser Digital.
Laser says the deal will help bring cross-asset post-trade capabilities to institutional digital asset investors.
Elysium will bring over its FX and digital asset product lines and client base. This includes RiskDB, its enterprise platform which integrates business logic within a real-time database to streamline post-trade workflows and reduce trade processing costs.
The acquisition also includes Elysium’s central clearing solution and software platform, MatchHub, which reconciles and settles trade transactions while promoting business and counterparty transparency.
US-based Elysium was founded back in 2007 by ex-UBS executives Andy Siciliano and Ed Mount, along with Mark Rosenfeld and Lo Shih, with the ambition to cultivate post-trade solutions for the over-the-counter (OTC) FX industry.
Some of the post-trade solution provider’s current employee base originally launched their careers at the Chicago-based options trading firm O’Connor and Associates, including Mount, who serves as the Group’s CEO.
Steve Ashley, executive chairman of Laser Digital, describes the Elysium acquisition as “a strategic move that aligns perfectly with our vision for the future of finance”.
“Combining Laser Digital with Elysium’s RiskDB and MatchHub platforms will enable us to deliver the cross-asset post-trade system institutional digital asset investors require,” Ashley adds.
The consolidation of Elysium’s post-trade solutions with Laser Digital’s existing operations is projected to place the two companies more competitively within the wider digital asset industry. Ultimately, this latest activity will seek to drive efficiency, transparency and reliability in post-trade services for the benefit of financial institutions and market participants.
