Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related solutions, today announced the closing of its acquisition of 7ticks, LLC, an innovative provider of electronic trading networks and managed services.
This acquisition supports Interactive Data's strategy to address the latency sensitive trading needs of its institutional customers. Acquiring 7ticks accelerates Interactive Data's plans to increase the flexibility, agility and resiliency of its network infrastructure, thereby supporting a broader range of high-quality direct exchange access and consolidated datafeed services. A growing base of proprietary trading groups, clearing firms, global investment banks, brokers, market makers, hedge funds and independent software vendors rely on 7ticks for direct exchange access, proximity hosting, and support services that facilitate ultra low latency electronic trading of North American derivatives, options and commodities securities.
The 7ticks business will be operated as part of Interactive Data's newly formed Real-Time Market Data and Trading Solutions Group. Services from 7ticks will be marketed as Interactive Data 7ticks going forward.