ESpeed pays £14 million for London's ITSEcco Holdings
21 October 2004 | 4168 views | 0
Fixed income trading network eSpeed has acquired UK-based electronic financial markets specialist ITSEcco Holdings Limited for £14 million.
ESpeed says it will benefit from Ecco's established front-end software and routing solutions to worldwide exchanges, as well as software and intellectual property for credit and risk monitoring.
Jonathan Cowan, senior vice president of eSpeed and co-founder and former director of business development for Ecco, comments: "eSpeed's expansion in areas such as FX and equities creates virtually limitless opportunities for spread trading which many traders are using to create value in today's competitive financial markets."