Accenture (NYSE: ACN) has completed its acquisition of Formicary, a leading provider of systems integration and technology consulting services for trading platforms in the UK and North America.
With the completion of the acquisition, Accenture further strengthens its capabilities in helping banks, asset managers, hedge funds and clearing organisations transform their trading technology platforms, enabling them to quickly and cost-efficiently adapt to market and regulatory change. Formicary also brings its deep knowledge of trading technologies provided by Murex, Calypso and Misys Summit, reinforcing Accenture’s position as a leading global provider of systems integration and technology consulting services for these industry-leading platforms.
“The addition of Formicary to our trading platform services team brings complementary industry depth and expertise,” said Owen Jelf, global managing director of Accenture’s Capital Markets practice. “We welcome the extremely talented Formicary specialists to Accenture, where together we are even better positioned to deliver large-scale digital transformations that can help capital markets firms reduce costs while increasing the scale and profitability of their trading operations.”
Formicary was founded in 2000 and has offices in London, Toronto and New York. Its clients include tier-one investment banks, hedge funds, clearing houses and fund administrators. Through its full range of services – which include trading and risk platforms integration and migration, OTC clearing technology, custom development, managed services and bespoke software – Formicary helps clients maximize the potential and cost-effectiveness of proprietary and packaged software platforms to enhance their competitive advantage and streamline business operations.