Acquisition enables Vela to offer a comprehensive software and managed services solution across the entire electronic trading workflow
Vela Trading Technologies LLC (Vela), an award-winning global leader in high performance trading, market data, and analytics technology, has signed a definitive agreement to acquire Object Trading, a global provider of a fully-managed Direct Market Access (DMA) platform, pre-trade risk controls, and analytics applications.
This acquisition further strengthens Vela’s high-performance trading and market data technology products and services, delivering an extensive set of solutions across the entire electronic trading workflow to help clients reduce total cost of ownership, comply with ever-changing regulatory requirements, and evolve their global electronic trading strategies.
The addition of Object Trading and OptionsCity enables Vela to provide an end-to-end trading platform with global, multi-asset class coverage; high-performance, low-latency market access and market data; industry leading pre-trade risk controls; drop copy functionality; post-trade processing; trading analytics; plus, a front-end GUI for price discovery, workflow management, and order entry.
Jennifer Nayar, CEO of Vela, said, “This acquisition of Object Trading is part of our strategic plan to grow our trading technology portfolio. It strengthens our high-performance trading solutions and will accelerate our market access Platform-as-a-Service strategy with additional pre-trade risk and analytics functionality.” She added, “Together with Object Trading and OptionsCity, Vela further expands our products and services suite bringing innovative technologies and cost-effective solutions to our clients around the world.”
Steve Woodyatt, CEO & Chairman of Object Trading commented: “We are very excited to join the Vela team.” He added, “As part of the larger organization, we will be able to deliver a wide range of solutions to the markets, helping clients to support key obligations to comply with evolving regulatory requirements, adopt global electronic trading strategies, and manage costs.”
The Object Trading transaction is subject to regulatory approval and customary closing conditions. It is expected to close in early Q3 2017.
Willkie Farr & Gallagher LLP served as Vela’s legal advisors in the transaction. Goldenhill International M&A Advisors served as Object Trading’s strategic advisors; and PwC acted as Object Trading’s legal and financial advisors.
The OptionsCity transaction, which was announced on June 20, 2017, has closed.
Vela is an independent global leader in high performance trading and market data technology. We provide the breadth of coverage and depth of expertise demanded by today’s multi-asset, multi-region electronic trading environment. Our clients benefit from our award-winning managed services, white-glove global customer support, and world-class professional services from an experienced team comprised of seasoned financial services industry experts and cutting-edge technologists.
Providing premier market data and trading technology, Vela improves time-to-market, lowers costs and eliminates complexity. Vela delivers products that empower our clients to focus on their core business strengths, leveraging key trading infrastructure solutions via our technology, expertise and experience.
Object Trading delivers an independent, global, multi-asset direct market access trading infrastructure combined with decades of client-side insight and experience, enabling each customer regardless of its trading strategy, size, style or frequency, to innovate, control risk and trade in an ever-changing and fiercely competitive environment. Object Trading’s DMA Platform provides ready access to the international markets with a proven, independent infrastructure that readily normalizes the mass of market connectivity, eliminates infrastructure startup processes and unifies risk constraints, ultimately enabling accelerated growth. Object Trading is connected to more than 60 global equity, derivative and FX exchanges for both market data and order routing, with offices in London, New York, Chicago and Sydney.