16 December 2017
visit www.ebaday.com

ICE buys Algo Technologies for Nyse overhaul - Bloomberg

23 April 2014  |  8291 views  |  0 ICE web logo

IntercontinentalExchange has acquired Algo Technologies and will use the vendor's matching engine to boost the performance of the New York Stock Exchange, according to Bloomberg.

After buying Nyse Euronext in November, ICE decided that it needed to revamp the New York Stock Exchange's systems, says Bloomberg, citing sources.

The exchange operator has now plumped for Algo Technologies, a firm founded in 2010 by former Chi-X Europe COO Hirander Mirsa and Rami Habib and Alexei Lebedev to target the lucrative HFT market. Misra has since left.

The AlgoM2 matching engine technology will drive Nyse's US stock and options markets, says Bloomberg.

Algo Technologies claims that AlgoM2 has the lowest latency in the business at just 16 microseconds, compared to the LSE's Millennium platform's 124 microseconds and Nyse Arca's 500 microseconds.

ICE and Algo Technologies have not commented on the acquisition.

ICE is selling off Nyse Euronext's technology unit, including Nyfix, the trading systems vendor acquired by Nyse for $144 million in 2009, market data tech outfit Wombat, bought for $200 million in 2008, and the SuperFeed data dissemination business.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

ICE to ditch Nyse Technologies; spin off Euronext

ICE to ditch Nyse Technologies; spin off Euronext

20 November 2013  |  7400 views  |  0 comments | 6 tweets | 1 linkedin
ICE and Nyse Euronext postpone merger date

ICE and Nyse Euronext postpone merger date

31 October 2013  |  5238 views  |  0 comments | 3 tweets
Nyse Technologies bosses to leave - FT

Nyse Technologies bosses to leave - FT

28 October 2013  |  6383 views  |  0 comments | 3 tweets | 2 linkedin
ICE calls in banks for Euronext IPO

ICE calls in banks for Euronext IPO

22 August 2013  |  5107 views  |  0 comments | 1 linkedin
ICE to acquire Nyse Euronext for $8.2bn; LSE/LCH.Clearnet talks rumble on

ICE to acquire Nyse Euronext for $8.2bn; LSE/LCH.Clearnet talks rumble on

20 December 2012  |  9941 views  |  1 comments | 5 tweets | 8 linkedin
Misra quits Algo Technologies

Misra quits Algo Technologies

19 July 2011  |  7965 views  |  0 comments
Plus signs with Algo Technologies for systems overhaul

Plus signs with Algo Technologies for systems overhaul

25 August 2010  |  8753 views  |  0 comments
Misra to head new algo trading technology firm

Misra to head new algo trading technology firm

15 March 2010  |  9010 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.thomsonreuters.infovisit www.atos.net

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10128 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9530 views comments | 17 tweets | 36 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
6926 views comments | 19 tweets | 20 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6314 views 0 | 4 tweets | 2 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
5892 views comments | 5 tweets | 26 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job