Trading Technologies Broadens Multi-asset Class with Acquisition of AxeTrading

Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, announced that it has completed the acquisition of AxeTrading, a leading fixed income trading software company. The acquisition marks a significant broadening of TT's multi-asset capabilities with an expansion into full coverage of corporate, government, municipal and emerging market bonds as well as over-the-counter (OTC) interest rate swaps, consolidating and strengthening TT's leading position in fixed income derivatives and U.S. Treasuries.

Last June, TT signed a strategic agreement with Talos, a premier provider of institutional digital asset trading technology, to expand its cryptocurrency offering on a global basis. The agreement represents the first major strategic partnership propelling TT's expansion into multiple asset classes, including cryptocurrencies, and provides a significant opportunity for TT's global customer base to access Talos' extensive, market-leading cryptocurrency trading solutions.

AxeTrading provides global clients with connectivity to all major fixed income trading venues. In addition, it offers a sophisticated, customizable pricing and quote management engine, as well as automated workflow management tools that facilitate market participants faced with the complexity of pricing, quoting and trading fixed income products across multiple venues and protocols.

"The fixed income market represents a major opportunity for TT given its size, considerable growth and ongoing adoption of electronic trading," said Keith Todd, CEO of TT. "This acquisition is a key element of our strategy to expand beyond listed derivatives and cryptocurrencies, giving us an extensive offering in the fixed income space. AxeTrading and Trading Technologies are both recognized as technology leaders in our respective markets. We are excited to welcome the talented AxeTrading team to TT and to implement our shared vision for the delivery of core fixed income functionality via the industry's leading Software-as-a-Service (SaaS) platform."

"This acquisition represents a significant game changer. The combination of AxeTrading's leading expertise in fixed income markets technology, together with TT's already established position in listed derivatives and U.S. Treasuries, will provide a comprehensive offering to customers globally," said Greville Lucking, CEO at AxeTrading. "Leveraging the TT SaaS platform to deliver and distribute a true multi-asset offering is exactly what our customers are seeking. We have been extremely impressed with the ambition of the TT team in the fixed income market space, and we are confident that our aligned vision and culture will drive a highly successful future for our customers, partners and employees."

Terms of the transaction were not disclosed.