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Thomson Reuters acquires Aegisoft

09 February 2010  |  11361 views  |  0 Stock market quotes

Thomson Reuters has boosted its direct market access capabilities through the acquisition of Aegisoft, a US-based provider of electronic trading and testing tools. Terms of the transaction were not disclosed.

Aegisoft has built its business on the Athena product line, a multi-asset trading platform which provides order and execution management, exchange connectivity and foreign exchange aggregation, as well as client and exchange simulators.

The acquisition is a significant step forward in Thomson Reuters' strategy to offer clients, broker sponsored direct market access (DMA) through both its terminals and order routing networks. Customers will now have direct access to both exchanges and alternative trading systems through Thomson Reuters Trading for Exchanges (TRTEx) from a desktop or through a FIX interface via the vendor's order routing networks.

The US Securities and Exchange Commission recently proposed new rules prohibiting broker-dealers from providing customers with unfiltered or naked access to an exchange or ATS. The SEC's proposed rule would require brokers to put in place risk management controls that would help prevent erroneous orders, ensure compliance with regulatory requirements, and enforce pre-set credit or capital thresholds.

Thomson Reuters is at pains to point out that the Aegisoft acquisition is geared towards sponsored access with sophisticated administration rights tools built in as opposed to naked access

Stephen Wilson, global head of exchange traded instruments, Thomson Reuters, comments: "Thomson Reuters acquisition of Aegisoft helps take our transactions platform for exchange traded markets to the next level to meet the growing demand for clients seeking DMA and more sophisticated trading support tools. Consolidating our complete transactions workflow into a simple, powerful trading platform within the desktop will bring greater efficiencies and improve trading opportunities for our clients."

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