Refinitiv to Purchase AlphaDesk05.23.2019
Refinitiv currently offers pre-trade data and analytics via its flagship financial platform Eikon, which is integrated with its EMS trading capabilities from REDI. AlphaDesk adds a multi-asset class and multi-currency OMS platform with flexible workflows, adaptable to the differing needs of individual buy-side traders and asset managers.
AlphaDesk software combines OMS and operations management capabilities for managing data and integrating with other systems involved in the buy-side investment workflow. This combination benefits both traders and traditional buy-side portfolio managers, given their converging roles.
“Our past collaboration with AlphaDesk makes them a strong fit for us, and the integration of their platform with our existing products further expands Refinitiv’s presence as a premier trading solution for professionals across the buy-side community,” said Michael Chin, managing director and co-head of Trading, Refinitiv. “With the acquisition of AlphaDesk, Refinitiv now delivers an even more powerful buy-side trading solution that is flexible, compliant, interoperable, and covers all segments of the trading workflow. As a Cloud-based provider, AlphaDesk further aligns with Refinitiv’s overall Cloud strategy, and will help provide a more seamless path to implementation and integration yielding significant cost-savings and agility for our clients.”
“We are very excited about joining the Refinitiv team. There is great potential to provide hedge funds and asset managers what they have been asking for: a simpler way to acquire and manage better technology. The combination of our front-to-back, cloud-based system with Refinitiv’s global reach and extensive technology platform will help provide a truly superior offering to clients all over the word,” said Dan Rissin, CEO, AlphaDesk.
Refinitiv expects the acquisition to close in the second quarter.
The deal should boost the firm's LME operations in Germany, say officials.
The deal entails the acquisition of three of the firm's brokerage businesses.
Schwab estimates a $1.8B to $2B run-rate expense synergies within three years of the deal's close.
The acquisition extends the vendor's SaaS offerings to private debt markets.
The purchase should bolster the firm's trading technology and quantitative research.