Refinitiv has agreed to acquire AlphaDesk, a cloud-based order management system (OMS), from SGGG Group, a Toronto-based provider of software and administration services to investment funds.
Terms weren’t disclosed.
Refinitiv, a London, U.K.-based provider of financial markets data and infrastructure, said the deal will add OMS capabilities to its end-to-end trading solution.
Refinitiv emerged last year with the acquisition of Thomson Reuters‘ financial and risk unit by a consortium led by U.S. private equity firm Blackstone Group. The deal valued the business at about US$20 billion.
Refinitiv Expands Its Buy-Side Portfolio Management and Trading Capabilities with Acquisition of Cloud-Based AlphaDesk
Refinitiv adds OMS trading capabilities as part of its end-to-end trading solution, following acquisition of REDI in 2017
May 23, 2019
NEW YORK–(BUSINESS WIRE)–Refinitiv has signed a definitive agreement to acquire AlphaDesk, a cloud-based Order Management System (OMS) that offers order and portfolio management, risk, and compliance solutions for buy-side clients.
Refinitiv currently offers pre-trade data and analytics via its flagship financial platform Eikon, which is integrated with its EMS trading capabilities from REDI. AlphaDesk adds a multi-asset class and multi-currency OMS platform with flexible workflows, adaptable to the differing needs of individual buy-side traders and asset managers.
AlphaDesk software combines OMS and operations management capabilities for managing data and integrating with other systems involved in the buy-side investment workflow. This combination benefits both traders and traditional buy-side portfolio managers, given their converging roles.
“Our past collaboration with AlphaDesk makes them a strong fit for us, and the integration of their platform with our existing products further expands Refinitiv’s presence as a premier trading solution for professionals across the buy-side community,” said Michael Chin, managing director and co-head of Trading, Refinitiv. “With the acquisition of AlphaDesk, Refinitiv now delivers an even more powerful buy-side trading solution that is flexible, compliant, interoperable, and covers all segments of the trading workflow. As a Cloud-based provider, AlphaDesk further aligns with Refinitiv’s overall Cloud strategy, and will help provide a more seamless path to implementation and integration yielding significant cost-savings and agility for our clients.”
“We are very excited about joining the Refinitiv team. There is great potential to provide hedge funds and asset managers what they have been asking for: a simpler way to acquire and manage better technology. The combination of our front-to-back, cloud-based system with Refinitiv’s global reach and extensive technology platform will help provide a truly superior offering to clients all over the word,” said Dan Rissin, CEO, AlphaDesk.
Refinitiv expects the acquisition to close in the second quarter.
More on Refinitiv’s trading capabilities are available here.
Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime. www.refinitiv.com
© Refinitiv 2019. All Rights Reserved.
REDI Global Technologies LLC is a member of FINRA/SIPC. REDI Technologies Ltd. is authorized and regulated by the UK Financial Conduct Authority.
AlphaDesk delivers real-time order, portfolio, and operations management tools to fund managers. The managed cloud service supports multiple portfolios, strategies, asset types, currencies and custodians in a single, integrated solution. Using cutting edge cloud technologies, AlphaDesk achieves unparalleled performance, functionality, and value for money.