Trading Technologies (TT) has entered into a definitive agreement to acquire the buy-side TCA provider subsidiary of US agency broker Abel Noser Holdings.
The deal is expected to close on 31 August. Further terms were not disclosed.
As part of the acquisition of Abel Noser Solutions, Trading Technologies clients will gain access to TCA and regulatory services.. Abel Noser’s analytics will be integrated into the TT platform later down the line.
Also as part of the agreement, Trading Technologies will acquire broker-neutral trade optimisation platform, START, from Abel Noser in a second transaction expected to close by the first quarter of next year.
The transaction builds on Trading Technologies’ continued multi-asset data and analytics expansion. While the firm has an extensive existing offering in derivatives, it moved to establish a new FX business line in June and entered the fixed income market for the first time in March with its acquisition of AxeTrading.
“This acquisition enhances our appeal to the buy-side with an offering that spans multiple asset classes which we can fortify with the wealth of anonymised data harnessed through our platform,” said Trading Technologies chief executive officer Keith Todd.
“We intend to introduce the tools into the listed derivatives space through our vast client base, build on Abel Noser’s FX TCA capabilities as we roll out our new TT FX initiative and offer the firm’s clients the full breadth of TT services available.”