Redline Acquired by Pico
Posted by Colin Lambert. Last updated: January 6, 2022
Trading data and analytics provider Pico has acquired trading and market data software solution provider Redline – terms of the deal were not disclosed.
Pico says the addition of Redline’s multi-asset software solutions will provide access to a common API for global markets, both real-time and historical, delivered via Pico’s global network. It adds the combined offering reduces complexity by allowing trading firms to optimise market access and coverage and trading stack performance in a seamless manner.
“As the trading environment becomes more globalised and continues to produce increasing amounts of data, clients are seeking greater efficiency in market infrastructure services and data consumption,” says Jarrod Yuster, chairman, founder and co-CEO of Pico. “Financial institutions want a trusted and globally comprehensive technology partner who understands their business, the market landscape and how to apply technology solutions. Combining Redline’s premier ultra-low latency trading and software solutions with Pico’s broad infrastructure, cloud and data offering, and Corvil Analytics, positions Pico uniquely to address these client needs and market challenges.”
Redline provides software solutions and common APIs to over 180 global venues serving a client roster that includes global banks, quantitative hedge funds, electronic trading firms, ETF market-makers and exchanges.
Pico says continued investments will extend the Redline service offering to become fully and globally comprehensive in delivering real-time and historical normalised financial market data including consolidated, delayed or end-of-day formats via wire protocol or API. Delivery will be available in Pico’s financial cloud, any remote location or into the public cloud. This will enable Pico’s clients to adopt a broad suite of common solutions in all regions delivered and supported by Pico’s global 24×7 operations and service model, the firm states.
“Pico and Redline are aligned in our values, culture and expertise, and share a deep passion for meeting the needs of clients,” says Yuster. “There is a significant addressable market for global data consumption via software and a common API, and we will continue to invest in Redline further leveraging Pico’s global network and infrastructure coverage.”
Mark Skalabrin, founder and CEO of Redline, adds, “Pico has built one of the most comprehensive global platforms in our industry, and I am excited that Redline will now be part of their ongoing success. We have partnered on past initiatives, and we will now be able to access Pico’s globally deployed service organisation, leading analytics and infrastructure footprint to scale our offerings to more geographies. We foresee great collaboration between our teams in the coming years in order to continue to meet clients’ evolving needs.”