Having been active in Asia for a number of years, TransactTools has launched the company’s first local regional office in Singapore.
This latest step reflects significant global growth for the company and comes on the heels of recent European expansion and a number of key hires in Europe and the US. The company plans to open additional offices in Hong Kong and Tokyo in 2007.
This new Asia presence complements the company's existing development center in Pune, India and the combined team will deliver the same deep industry, product and technical expertise that has been a trademark of the company.
"Working with existing Asia-based clients has allowed us to track the development of e-trading in the Asia-Pacific markets." TransactTools CEO Sam Johnson notes. "Demand for high performance infrastructure for DMA and in-line risk management has grown dramatically. This is our sweet spot and we are very excited to be on the ground in this part of the world."
TransactTools also announced plans to appoint Peter Tierney regional Managing Director responsible for the company's Asia operations. Tierney will bring over 15 years of messaging and connectivity management experience to the organization, having held a number of senior positions with BTRadianz, Omgeo and Thomson in Singapore, New York, Boston and London. "Peter's hands-on expertise in Asia and his global industry knowledge and experience are unique," says Johnson. " This adds further depth to our global team and gives us a running start in the region."
"Citi has successfully deployed TransactTools technology to support our high-performance e-trading initiatives globally. Says Grace Lin, Director of Asia-Pacific Electronic Equity Trading at Citigroup in Hong Kong. We are very pleased to see this expansion into the region and look forward to working with the new team on a number of regional initiatives."