Chicago-based capital markets technology platform provider Trading Technologies has announced a definitive agreement to acquire Paris, France-based ATEO SAS, a leading provider of post-trade solutions for listed derivatives, expanding TT’s reach into clearing and other middle office technologies and services.
Terms of the transaction, which is expected to close on February 29, were not disclosed.
The two companies entered into a strategic partnership in late 2022 to offer a fully integrated, integrated post-trade allocation service for banks, brokers and futures commission merchants (FCMs). The acquisition brings ATEO’s full suite of middle office solutions to the IT infrastructure.
TT CEO Keith Todd said:
“We have enjoyed an excellent working relationship with the ATEO team since we started our partnership in 2022 and we have concluded that we can create an even stronger value proposition and a comprehensive offering by bringing the entire company and all software modules into the TT family of offerings . ATEO both respects technology and has built relationships of trust with a wide range of leading banks, brokerage firms, trading houses and professional traders. The total addressable market for middle office clearing solutions is at least $100 million, with plenty of room to grow market share.”
Laurent Courbin, Founder and CEO of ATEO, said:
“Since 2000, ATEO has been providing leading middle office solutions to our customers, with functionally rich and reliable software. While we have already attracted some of the industry’s leading companies, we now have the ability to scale significantly as part of TT’s team and infrastructure, supporting more customers of all sizes, regardless of the scope of their needs.”
David Romeo, CEO of ATEO, said:
“This will also bring our existing customers and those who are available to us easy access to the TT platform and the full range of services the company provides. Enabling our clients to manage their trading activities, from pre-trade risk to post-trade allocation and settlement through TT’s multi-asset platform, will provide a significant competitive advantage.”
ATEO will operate as a global managed service hosted in TT’s data centers. ATEO’s 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.
Among ATEO’s products are: TEO Derivatives, a global order management system dedicated to pure brokerage environments and used by many of the world’s leading brokers and executive brokers, including the vast majority of brokers in London. the LISA Clearing Engine, a widespread trade matching and clearing solution that enables companies to process their trades across all clearinghouses worldwide and offer personalized services to their clients. and UGO, a set of gateways and standardized clearing application programming interfaces (APIs) that enable firms to develop or power internal solutions through scalable transaction feed standardization and high performance for all clearing activities.
About Trading Technologies
Trading Technologies (www.tradingtechnologies.com) is a Software-as-a-Service (SaaS) technology platform provider to the global capital markets industry. The company’s award-winning TT® platform connects to the world’s largest international exchanges and liquidity venues in listed derivatives along with a growing number of asset classes, including fixed income and cryptocurrencies. The TT platform provides advanced trade execution and order management tools, market data solutions, analytics, trade oversight, risk management and infrastructure services to leading market-side sales organizations, firms and exchanges. The firm’s client base includes Tier 1 banks as well as brokers, money managers, hedge funds, proprietary traders, Commodity Trading Advisors (CTAs), trade hedgers and risk managers. These companies rely on the TT ecosystem to manage their end-to-end trading activities. In addition, exchanges use TT’s technology to offer innovative solutions to their market participants. TT also strategically partners with technology companies to make their complementary offerings available to Trading Technologies’ global customer base through the TT ecosystem.
About ATEO
ATEO provides post-trade solutions for the financial industry, including a global blotter, clearing and matching system and extensive market connectivity. The world’s leading banks, trading houses and professional traders have relied on ATEO technology since its inception in 2000. Through years of experience, advanced technology solutions and an unparalleled sense of service, ATEO helps clients achieve efficiency and grow their business their.