Source: Rapid Addition
Rapid Addition, a leading provider of trading technology has entered an agreement to acquire the business, assets and employees of DET Technologies, a provider of low latency hub and monitoring software to support electronic trading.
The acquisition will deliver a world leading, real-time platform for buy- and sell-side financial institutions.
The platform, which is underpinned by Rapid Addition’s low latency Cheetah FIX engine, creates a high volume, low latency, low jitter hub, with monitoring tools to deliver a fast, flexible solution that end users can easily configure. Heads of trading, electronic trading and operations teams can use the platform to easily deliver, manage and monitor electronic trading, order routing, smart order routing, algorithmic and matching solutions. Extensible functionality includes configurable in-line risk filter and wide-ranging configuration management tools.
This acquisition complements Rapid Addition’s existing business, which has grown 30% annually, while illustrating the company’s swift progress and high standing in the market. The deal will further enhance Rapid Addition’s client offering, enabling it to service more of the larger institutional buy and sell side market.
Former BNP Paribas pair Petr Postulka and Jaromir Satanek who founded DET Technologies will join Rapid Addition to lead its software development function. As part of this deal, they will be able to leverage Rapid Addition’s offering, knowledge and experience as well as sector presence and marketing expertise.
The combination will provide a new generation of FIX performance, which will be the best-in-class thanks to the superior flexibility of the DET Hub and the performance of Rapid Addition’s FIX engines and FPGA technology. The new infrastructure will provide real time monitoring, visual data analysis tools, customisable user interface to create a scalable 21st Century electronic trading infrastructure.
Kevin Houstoun Chairman Rapid Addition said, “What Petr and Jaromir have designed for real world applications is a game changer, especially combined with the Rapid Addition offering. It will make life much easier for operations and trading teams. It is incredibly flexible, easy to use and performs to a high level. With our engineering teams working together, we will be able to provide a platform that integrates with our FPGA FIX accelerator to provide unbeatable performance. The two businesses are a natural fit and we are looking forward to driving growth of Rapid Addition.”
Petr & Jaromir the DET-Tech Founders said “It is great to become part of the Rapid Addition family, our products both complement each other well and this will be a game changer for both parties. In terms of speed, the new Rapid Addition offering will be unrivalled and we look forward to growing the business by serving the electronic trading needs of existing and future customers.”
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