Trading Technologies International, Inc. (TT), a leading provider of order-entry software and solutions for professional derivatives traders, announced today that it has acquired TickIt Trading Systems, LLC (TickIt). Terms of the deal are undisclosed.
TickIt's software provides traders of every level of expertise a comprehensive and unique combination of capabilities needed to move into advanced low-latency algorithmic and blackbox trading. The award-winning platform allows traders to create high-frequency strategies quickly and safely without having to write source code.
In a joint statement, Mike Unetich and Rick Lane, Co-Founders of TickIt Trading Systems, said, "We're excited about this transaction. The combined forces of the two companies will allow us to showcase our technology to the greatest number of traders and help usher in the next phase of algorithmic trading."
Harris Brumfield, TT CEO, added, "We think TickIt's software is innovative and complementary to TT's software and solutions. Our end users should benefit greatly."
The purchase of TickIt was completed on June 8, 2010.