TT Continues to Add with Abel Noser Buy
Posted by Colin Lambert. Last updated: August 23, 2023
After a brief hiatus, Trading Technologies International (TT) has returned to the M&A market with the agreement to acquire transaction cost analysis provider Abel Noser Solutions – terms of the transaction were not disclosed.
TT says the acquisition represents an extension into the multi-asset data and analytics space, further building on its expansion into new asset classes. In June, TT announced the establishment of a new FX business line, TT FX, following its entry into the fixed income space in March with the acquisition of AxeTrading.
Abel Noser Solutions, the fintech subsidiary of Abel Noser Holdings, provides pre-trade, real-time and post-trade TCA products and services to both the buy side and sell side for a range of asset classes, including equities, FX, futures, fixed income and options. It also offers a range of compliance reporting, trade surveillance and algorithmic trading solutions.
As a result of the acquisition, Abel Noser’s TCA and regulatory services will be made available to TT clients. Its clients will also be able to leverage the services and functionality of the TT platform. Over time, TT says Abel Noser’s analytics will be integrated into the TT platform.
Abel Noser’s agency-only brokerage, that provides a range of trading services and analytics for investment managers, asset owners, investment consultants and brokers, is not part of the transaction and will continue to operate as an independent agency-only execution broker-dealer.
TT will acquire Start, a broker-neutral trade optimisation platform, from Abel Noser in a second transaction expected to close by the first quarter of 2024.
“This acquisition enhances our appeal to the buy side with an offering that spans multiple asset classes which we can fortify with the wealth of anonymised data harnessed through our platform,” says TT CEO Keith Todd. “Abel Noser’s pioneering solutions have for decades been critical to the success of buy-side participants across the globe who recognise that the ability to reliably analyse transaction costs is essential. We intend to introduce the tools into the listed derivatives space through our client base, build on Abel Noser’s FX TCA capabilities as we roll out our new TT FX initiative and offer the firm’s clients the full breadth of TT services available.”
Peter Weiler, Abel Noser CEO, adds, “Our complementary multi-asset platform offerings will drive our business to new heights by continuing to deliver exceptional service and additional product innovation at an accelerated pace to our clients. This strategic move represents a significant milestone in our company’s history and will enable us to leverage the global reach of TT to better serve our customers and offer broader opportunities to our employees and partners.”