11 December 2017
visit www.avoka.com

Iress expands in UK with acquisitions of Proquote and Pulse

15 September 2015  |  5574 views  |  0 London stock exchange 1

Australia's Iress has acquired market data vendor Proquote from the London Stock Exchange and portfolio management software house Pulse Software Systems, boosting its presence in both the capital markets and discretionary fund management space within the UK.

Proquote, an LSE portfolio company since 2003, operates the Retail Service Provider network that offers retail trading in the United Kingdom. The acquisition by Iress also includes LSEHub, a FIX order routing business which provides trade order connectivity between institutional investors and brokers.

In announcing the sale, the LSE says that Proquote is "not central to its strategy" for the enlarged Information Services Division.

The second acquisition, Pulse, is an established provider of portfolio management software to private asset managers who manage investments for clients on a discretionary basis.

Iress says all 55 Proquote and Pulse management and employees are expected to join the firm, including Proquote managing director, David Tibbetts, and Pulse managing director and founder, Mike Nicholls.

Iress has also appointed a new group executive - strategy, Simon New from Ernst & Young, whose initial focus will include overseeing the integration of the two businesses.

IRESS chief executive Andrew Walsh says: “Regulatory change and market demands mean there is an increasing need for unified, flexible and reliable technology solutions in the UK. These acquisitions further Iress’ relevance as a strategic partner responding to this demand.”

Both deals are expected to be wrapped up by Q4 2015. Financial terms were not disclosed.

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

Atom Bank contracts with Iress for digital mortgage platform

Atom Bank contracts with Iress for digital mortgage platform

11 August 2015  |  8609 views  |  1 comments | 9 tweets | 4 linkedin
Iress introduces Twitter market data service

Iress introduces Twitter market data service

23 July 2014  |  3947 views  |  0 comments | 9 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.solutions.lexisnexis.comvisit http://info.nice.com

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18247 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11150 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
7115 views comments | 13 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6507 views comments | 8 tweets | 17 linkedin
Barclays, First Direct and Nationwide join FCA sandbox cohortBarclays, First Direct and Nationwide join...
5907 views comments | 5 tweets | 12 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job