Redi Holdings LLC ("Redi"), the independent, industry-backed provider of the RediPlus trade management platform, today announced the successful completion of its move to a new 10,000 square foot facility in Plano, Texas.
The new office, located at 7800 North Dallas Parkway, will accommodate the firm's Dallas-area growth ambitions and provide clients in the region with continued access to local resources.
Commenting on the move, Rishi Nangalia, CEO of REDI, said: "Texas offers an abundant base of high-quality development talent, an excellent quality of life for our employees and a very favorable overall business environment in which to operate. We're extremely pleased to re-affirm our longstanding commitment to the area as we work to continue the expansion of our business here."
REDI, which previously maintained an office in Frisco, has roots in the region going back to 2000 when InstaQuote—which Bank of America Merrill Lynch acquired in 2004 and transferred to REDI as part of its equity investment in the firm in 2013—was launched. REDI completed the integration of the InstaQuote business earlier this year, fully migrating its technology, clients and employees to REDI.
In addition to providing REDI with a state-of-the-art base from which to service its local clients from a sales, support and development perspective, the new Plano office serves as a full disaster recovery site, enabling REDI to run its entire global business from the location if necessary and providing an added layer of resiliency for the more than 800 firms who rely on REDIPlus as their trading platform. The office also offers the growing firm the ability to potentially double its employee base in the region.
"With the integration of InstaQuote's suite of multi-broker middle-office tools and risk management capabilities into a platform that was already extremely powerful, REDIPlus can today meet the needs of an even broader universe of clients," said Clayton Meadows, Global Head of Professional Services. "As many of these firms are geographically located throughout the mid-west, we're happy to be able to enhance the level of local service we can provide to them as we progress with our growth strategy."