Dallas, 5 January, 2005 â Penson Worldwide, Inc., a leading provider of execution, clearing, custody and settlement services for the global securities market, today announced its acquisition of Tick Data, Inc., specialist provider of value-added, historical, intraday financial data. The acquisition, which reflects the Penson Groupâs commitment to servicing the global automated trading community, will extend independent subsidiary Nexa Technologies Inc.âs suite of next-generation trading solutions beyond the online, direct access and institutional brokerage trading solutions arenas.
Pensonâs acquisition of Tick Data, Inc. will further enhance its flexible and cost-effective technology and global securities processing services within the automated trading arena. Black box, statistical-arbitrage and quantitative trading clients are able to analyze and back-test trading strategies using Tick Dataâs unique archive of high-frequency data and technologies and then deploy them seamlessly in real-time using Nexaâs existing market data and direct market access technologies.
Tick Dataâs suite of research-quality equity and futures databases is currently used by most of the largest financial institutions and thousands of professional traders worldwide.
Daniel Son, President, Penson Worldwide, Inc., comments: "Tick Dataâs proven sets of historical intraday time series data provide a natural compliment to Pensonâs high performance trading solutions and infrastructure. As such, weâre delighted to bring the Tick Data solutions and experienced professionals into the Penson fold, operating within our independent technology subsidiary, Nexa Technologies, Inc."
Tick Dataâs product set includes the Tick Equity Database which contains tick-by-tick trade and quota data for every U.S. equity back to 1993, the One-Minute Equity Database which contains historical data on over 3,600 U.S. equity symbols as far back as 1993, and the Global Futures and Index Database which includes tick-by-tick futures and index data as far back as 1974.
Eric Stoop, President, Nexa Technologies, comments: "By combining Tick Dataâs one-minute equity data and tick-by-tick futures and index data with Nexaâs existing online, direct access and institutional brokerage trading solutions, Nexa is now able to boast an unparalleled offering to high-frequency automated traders throughout North America and Europe. This acquisition is a natural progression for Tick Data, Nexa Technologies and their respective client bases."
Thomas Neal Falkenberry, President, Tick Data. Inc., adds: "This acquisition is a significant step for Tick Dataâs experienced professionals and our extensive client base. With the rise in statistical arbitrage players, competition between them is intense. The need for reliable, direct access execution and access to reliable real-time data is a natural extension of our value proposition to our existing clients. The combination of Tick Dataâs data and technology, Nexaâs best-of-breed trading solutions suite and Pensonâs outsourced clearing, custody and settlement infrastructure offering will offer significant opportunities to our respective clients to continue to improve their trading results now and in the future."