Multi-asset electronic trading firm, smartTrade, has entered an agreement to acquire ultra-low latency execution infrastructure provider, Celoxica.
The transaction marks an expansion of smartTrade’s current ultra-low latency solutions and product suite, and builds out the firm’s coverage across OTC to listed markets, as well as across orchestration, pricing and execution infrastructure.
Moreover, the acquisition will extend smartTrade’s current offering into new client segments across the buy- and sell-side, as well as enabling Celoxica’s technology to be leveraged by smartTrade’s clients globally, which spans more than 250 users, and teams in EMEA, the Americas and APAC.
David Vincent, chief executive and co-founder of smartTrade, said: “This transaction expands smartTrade’s ecosystem of global, multi-asset trading to include Celoxica’s specialised ultra-low latency execution infrastructure, under the vision of being the electronic trading and payments technology partner of choice for customers.
“Celoxica has built, with great rigour, a technology that the most demanding institutions in the market rely upon every day, and it sits precisely at the layer of the stack where we wished to grow. We are convinced that, together, we offer our clients something much more valuable than either of us could offer alone.”
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Celoxica’s current offering covers listed equities, futures, fixed income and options, which aims to provide execution support which aligns with pre-trade risk.
Specifically, Celoxica clients will be able to access smartTrade’s multi-asset trading solutions spanning connectivity, distribution, OMS, analytics and AI capabilities, while smartTrade users will benefit from Celoxica’s listed markets connectivity, ultra-low latency capabilities and pre-trade risk technology.
“Our team, our leadership, and our way of working with clients remain unchanged. What changes is our reach – smartTrade’s global distribution and its investment in engineering and AI will give our clients access to a larger global platform, which complements the specialist service they rely on today,” added Jean-Marc Bouhelier, general manager of Celoxica.