Integral acquires International Financial Systems

Integral acquires International Financial Systems

Capital markets software company Integral has acquired International Financial Systems, the Dublin-based provider of the MarginMan collateral trading software, currently in use at 20 of the world's top financial institutions, including ABN Amro, Citigroup Private Bank, Deutsche Bank and UBS.

Privately-held IFS has been operating with a skeleton staff and looking for a buyer for some months after running out of funding towards the end of last year.

"Today's news represents a great opportunity for our customers, partners and employees," says Jim Duffy, chairman, IFS.

Financial terms of the deal were not disclosed and Duffy has not commented on the future independent status of IFS.

Integral says it will migrate MarginMan to the Integral Financial Server, which should deliver dramatic increases in scalability for the package. The Server supports thousands of simultaneous users, boasts the vendor, and is capable of managing millions of transactions covering foreign exchange, money markets, derivatives, fixed income, and equity related financial products.

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