TECHNOLOGY

Vela continues expansion with Object Trading takeover

Vela plans to use the acquisition to boost its market data products and enhance its electronic trading solutions.

By Joe Parsons joe.parsons@strategic-i.com July 13, 2017 3:06 PM GMT

Vela Trading Technologies has made its second prominent takeover in quick succession by acquiring Object Trading, as it looks to boost its listed derivatives trading technology offerings.

The acquisition follows Vela’s announcement in June that it agreed to acquire OptionsCity, a futures and options analytics provider.

By acquiring Object Trading, Vela will gain access to Object Trading’s direct market access (DMA) platform, which connects buy-side and banks access to 60 equities, derivatives and FX exchanges.

Object Trading also offers order and execution management technology, pre-trade risk controls, and analytics data.

Details of the deal with Object Trading were not disclosed, however it expects to close the acquisition by early Q3 this year.

“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,” said Jennifer Nayar, CEO, Vela.

Vela plans to use the acquisition to boost its market data products and enhance its electronic trading solutions.

Steve Woodyatt, CEO and chairman of Object Trading, highlighted that the deal will help it reach more markets and offer a wider range of services.