Chicago, USA-based global capital markets technology platform provider Trading Technologies announced a definitive agreement to acquire France-based ATEO SAS, a leading provider of post-trade solutions for listed derivatives. The company announced the agreement on February 12, 2024. The transaction is expected to close on Feb. 29, 2024. However, it did not disclose the amount of the transaction.
Purpose of the acquisition by Trading Technologies
With the latest acquisition of Ateo, Trading Technologies expands its reach into clearing and other middle-office technologies and services.
As a part of the deal, ATEO will operate as a globally managed service hosted in TT’s data centres. The TT order management system (OMS) has already been completely connected with ATEO’s post-trade allocation engine, giving TT OMS clients seamless access to the feature.
What the Trading Technologies official has to add
Trading Technologies CEO Keith Todd said, “We’ve enjoyed an outstanding working relationship with the ATEO team since we embarked on our partnership in 2022, and we came to the conclusion that we can create an even stronger value proposition and end-to-end offering by bringing the entire firm and all software modules into the TT family of offerings. ATEO has both highly respected technology and established trusted relationships 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 for growth in market share.”
What the ATEO official has to comment
Laurent Courbin, Founder & Chief Executive Officer of ATEO, further said, “Since 2000, ATEO has provided premier middle-office solutions to our clients, with functionally rich and reliable software. While we have already attracted some of the leading firms in the industry, we now have the ability to scale significantly as part of the TT team and infrastructure, supporting more clients of every size, regardless of the scope of their needs.”
Besides, David Romeo, Managing Director of ATEO, said, “This will also bring our existing clients and those in our pipeline easy access to the TT platform and the full range of services the firm provides. Giving our clients the ability to manage their trading activities from pre-trade risk to post-trade allocation and clearing through TT’s multi-asset platform will provide a meaningful competitive advantage.”
About the company
Gary Kemp is the founder of Trading Technologies. TT is a Software-as-a-Service (SaaS) technology platform provider. It serves to the global capital markets industry. The company’s TT® platform connects to the world’s major international exchanges as well as liquidity venues in listed derivatives. It also offers connection to the growing number of asset classes, including fixed income and cryptocurrencies.
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