The New York Stock Exchange has signed a definitive agreement to acquire TransactTools, a provider of financial messaging technology for the securities trading industry. Financial terms of the deal were not disclosed.
TransactTools launched its enterprise platform for transactional connectivity management in 2001. Since then the platform has been developed to include a comprehensive set of services for managing all aspects of electronic trading connectivity.
The firm has 40 employees located in its New York headquarters and offices in London, Singapore, Chicago and Boston.
Nyse says the transaction, coupled with its recent acquisition of the Securities Industry Automation Corporation (SIAC), will give it a platform for delivering technology and services to customers for accessing liquidity and managing transactions across markets and geographies.
The exchange bought the one-third stake it didn't already own in SIAC from the American Stock Exchange in October. The SIAC unit operates SFTI, the high-performance network connecting market participants to liquidity and information, and Sector, a commercial business unit providing connectivity, managed services and market data content to financial services firms.
Following closing of the acquisition, which is expected in early January 2007, Sam Johnson, CEO of TransactTools will become a Nyse group EVP reporting directly to Putnam and will be responsible for integrating the TransactTools, SFTI and Sector businesses into a single commercial unit.
Jerry Putnam, Nyse group president and co-COO, says: "By strategically integrating the products and services of TransactTools we are addressing the changing connectivity needs of our clients and the broader market. We look forward to providing our customers with the ability to trade any asset, in any currency, at any time through a common technology platform."
Earlier this year Nyse bought MatchPoint Trading, a business specialising in call market trading and technology and acquired a majority equity stake in Marco Polo Network (MPN), an electronic trading platform focused on the emerging markets.