Sweden's CameronTec has signed a definitive agreement to buy US FIX and electronic trading tech specialist Greenline Financial Technologies from MarketAxess. Financial terms were not disclosed.
Founded in 2000, Chicago-based Greenline provides customised integration, testing and management technology for FIX-related products and services designed to optimise electronic trading of fixed-income, equities and other exchange-based products.
The company's suite of FIX products includes VeriFIX for testing and simulation, CertiFIX for certification and client support and MagniFIX for real-time monitoring of active trading sessions. A professional services business provides clients with custom system development and proprietary software.
In 2008 it was acquired by electronic bond trading network MarketAxess in a cash and stock deal worth around $42 million.
When the CameronTec deal closes - expected in the fourth quarter - CameronTec will assume Greenline's product and professional services agreements that cover customers in the US, Emea and Asia Pacific. MarketAxess will continue as a client.
Anders Henriksson, CEO, CameronTec, says: "Greenline's superior FIX operational technology and services coupled with CameronTec's leading connectivity technology and trading tools creates a compelling end-to-end trading and services platform for the global financial industry."
Max Colas, chief strategy officer, CameronTec, adds: "The combination of Greenline's investment with our latest Catalys messaging platform development will accelerate the delivery of a unique and powerful platform for processing, testing and managing all converging financial flows; from front-office to back-office, across all asset classes, globally."