TT Acquires AxeTrading

Trading Technologies (TT) is back on the acquisition trail, announcing the addition of London-based fixed income platform AxeTrading. Terms of the transaction were not disclosed.

TT says the acquisition “significantly broadens” its multi-asset capabilities into OTC interest rate swaps and corporate, government, municipal and emerging market bonds. It follows last year’s acquisition of RCM-X, a technology provider of algorithmic execution strategies and quantitative trading products, and a strategic partnership with KRM22 to expand its risk management product portfolio. The firm also partnered with Talos to broaden its cryptocurrency offering, ATEO Finance to deliver post-trade allocation services and Bantix Technologies to provide the QuikStrike options analysis software application through the TT platform.

The firm says it will further expand its product portfolio and asset class coverage through new strategic initiatives in 2023.

“The fixed income market represents a major opportunity for TT given its size, considerable growth and ongoing adoption of electronic trading,” says Keith Todd, CEO of TT. “This acquisition is a key element of our strategy to expand beyond listed derivatives and cryptocurrencies, giving us an extensive offering in the fixed income space.”

AxeTrading CEO Greville Lucking, adds, “This acquisition represents a significant game changer. The combination of AxeTrading’s expertise in fixed income markets technology, together with TT’s already established position in listed derivatives and US Treasuries, will provide a comprehensive offering to customers globally. Leveraging the TT SaaS platform to deliver and distribute a true multi-asset offering is exactly what our customers are seeking. We have been extremely impressed with the ambition of the TT team in the fixed income market space, and we are confident that our aligned vision and culture will drive a highly successful future for our customers, partners and employees.”