Trading technology provider Adaptive has received strategic investment from Citi and HSBC, as the firm looks to bolster its growth and product innovation.
Matt Barrett
Specifically, the collaboration is focused on Adaptive’s suite of Aeron products – delivering open-source messaging and clustering technology. The capital is expected to enable the firm to scale its delivery of cloud-native solutions and meet an increasing demand for client-owned, differentiated trading technology.
Matt Barrett, chief executive and co-founder of Adaptive, said: “While our expansion has been self-funded until now, the trajectory of capital markets technology is rapidly shifting, fuelled by AI and cloud migration. This funding enables us to accelerate our product development and cement our leadership in the next wave of disruptive technology across the financial ecosystem.”
The investment also aligns with a market which is seeing increasing liquidity and trading infrastructure migrating to the cloud and is set to support the adoption of open-source, modular and platform-based technology across capital markets.
Nikhil Joshi, global head of markets technology at Citi, said: ”In the rapidly evolving landscape of capital markets, the shift towards modular and cloud-native architectures demands robust and scalable high-performance trading infrastructure. Our investment in Adaptive reflects their strategic direction and the importance of innovative technologies such as Aeron, in fostering a more resilient and efficient financial ecosystem.”
The investment is set to support Adaptive’s growth and follows further significant developments for the firm in recent times.
In February 2025, Adaptive partnered with financial messaging protocol provider Rapid Addition to integrate FIX capabilities into Adaptive’s custom trading technology platforms, as revealed by The TRADE at the time.
This collaboration aimed to enable firms to simplify counterparty FIX onboarding and order routing workflow, as the market continues to see increasing necessity for clients to stay on top of regulatory change and margin pressures.