On Tuesday NYSE Group signed a definitive agreement to acquire TransactTools Inc., a provider of enterprise messaging solutions for the securities trading industry. This transaction, coupled with NYSE’s acquisition of the American Stock Exchange’s one-third ownership stake in the Securities Industry Automation Corp. (SIAC) on 1 November, which made NYSE Group the sole owner of SIAC, will enhance the exchange’s technology and services platform.
SIAC operates Secure Financial Transaction Infrastructure (SFTI), a network that connects market participants to liquidity and information, and Sector, a commercial business unit providing connectivity, managed services, and market data content to the financial services industry.
“Our vision has always been to provide the industry with a single, simple, comprehensive solution for managing access to liquidity regardless of where it sits,” says Sam Johnson, Chief Executive Officer, TransactTools. “In joining NYSE Group and integrating our platform with NYSE’s key technology assets we are taking a huge step towards realising that vision,” he adds.
What will TransactTools bring to NYSE? “TransactTools provides core messaging infrastructure software solutions for Tier 1 broker/dealers, exchanges and sophisticated buy-side shops,” says one market participant who wished to remain anonymous. “It’s TransactTools’ existing relationships with key players that will support NYSE’s ambitions going forward,” he adds.