UNX secures new funding; looks to international markets, multi-asset trading
24 May 2010 | 2449 views | 0
UNX LLC, a leading provider of open and innovative trading technology solutions, has secured strategic investments that will allow it to offer multi-asset class trading and expand into global capital markets.
New investors Broadhaven Capital Partners and Matthew Pritzker Company join existing investors Goldman Sachs, UBS Investment Bank and Vernon & Park Capital, to lead the new round of funding.
The news follows the recent announcements that UNX enhanced the portfolio and single-stock trading capabilities of its Catalyst® EMS, and integrated broker algorithms, portfolio trading and other electronic trading services into the Catalyst Portal and EMS. Recent broker-dealer integrations include offerings from Girard Securities, Goldman Sachs Electronic Trading, Knight, Mizuho Securities USA, Rosenblatt Securities and UBS Investment Bank.
UNX will use the funding, in part, to develop electronic trading capabilities for options and futures and extend its order routing and trading network into Europe, according to UNX CEO Thomas Kim.
"This latest investment demonstrates immense confidence in the UNX business model and value proposition—that of providing an open-technology EMS in tandem with a distribution portal, enabling the delivery of truly customized trading solutions," Kim states. "By expanding into new asset classes and new markets, we can solidify our position as a leader in broker-neutral, next-generation technology that fosters a collaborative environment within the capital markets trading community."
"The concept of an independent, multi-broker EMS and portal that allows institutional clients, broker-dealers and vendors to integrate their own specific offerings is resonating with a growing number of electronic trading professionals," states Gerard von Dohlen, co-founder of Broadhaven Capital Partners. "We see great opportunities in growing Catalyst both beyond equities and outside the U.S."
For Matthew Pritzker Company, its investment is justified by UNX's strong and seasoned management. "We like to focus on businesses with a proven model as well as the expertise to use capital judiciously and efficiently," explains Matthew Pritzker, Chairman. "The meme members of the UNX management team are capable industry veterans with a successful track record of introducing profitable, market-leading technologies."