Acquisition of Abel Noser Solutions ‘moves us closer than ever to the buy-side’, says Trading Technologies CEO

Clients of TT will now have access to TCA and regulatory services, with analytics from Abel Noser Solutions expected to be integrated into TT’s platform at a later stage.

Trading Technologies (TT) has completed the acquisition of the buy-side TCA provider subsidiary of Abel Noser Holdings.

Abel Noser LLC, which provides trading and analytical services for the buy-side, is not part of the transaction and will maintain its independence as an agency-only execution broker-dealer.

Now that the acquisition of Abel Noser Solutions has completed, clients of TT will have access to TCA and regulatory services.

The firm stated that Abel Noser Solutions’ analytics will be integrated in the TT platform at a later stage.

“Transaction cost analysis is an essential tool for the buy-side, and it influences many things, including the ability to achieve and ensure best execution and to objectively evaluate broker performance. It has value not just as a post-trade tool, but also pre-trade and at-trade,” Keith Todd, chief executive of Trading Technologies, told The Trade.

“TT enjoys a notable list of buy-side clients, but many of our relationships are through the sell-side. The transaction we just closed – bringing Abel Noser into the TT family – moves us closer than ever to the buy-side, giving us the opportunity to build on those relationships and also help our sell-side clients serve their buy-side customers with extraordinary new tools.”

TT told The TRADE that it expects to have the initial level of integration completed by the first quarter of next year. The preliminary integration work has been completed, The TRADE understands, and with the transaction concluded, TT can accelerate the effort.

“There will be a separate user interface (UI), but it will be available to our wider TT client base very quickly, and it will be easy to switch over to a different screen,” added Todd.

“We’ll maintain the Abel Noser brand, but it will ultimately be very much integrated into our platform with all capabilities available for clients to pick and choose what they want.”

In addition to the acquisition of Abel Noser Solutions, TT is set to acquire broker-neutral trade optimisation platform, START, from Abel Noser which is expected to close in Q1 2024.