The London Stock Exchange has agreed terms to acquire portfolio optimisation platform Quantile, extending its post-trade offerings to the over-the-counter derivatives market.
Founded in 2015, Quantile has grown to over 80 employees, with offices in London, New York and Amsterdam. The firm's services reduce counterparty risk, notional and capital requirements for market participants trading OTC derivatives globally.
Clients include all of the G15 top tier global banks, regional banks and other large institutional market participants.
In January 2021, the company received $51 million in growth investment from Spectrum Equity.
As part of LSEG, Quantile will operate as a standalone entity reporting to Daniel Maguire, LSEG’s group head of post trade. Quantile will continue to be led by its CEO and co-founder, Andrew Williams.
Says Williams: "We have built Quantile to be a bold and agile company which can react quickly to our clients’ needs, and we will continue to operate this way, but with the expertise and platform of a larger group.”
“Clients continue to face new challenges and there is immense capacity for Quantile to help maximise efficiency and better manage risk, capital and funding requirements through our multilateral optimisation services.”
The transaction, which is estimated to hit the £274 million mark, is expected to close in 2022.