Polaris Software, a provider of financial technology services, has acquired IndigoTX, a SaaS (Software as a service) firm that provides GO TX, an enterprise brokerage solution for the securities market on a pay per use model.
The GO TX brokerage platform is a technology platform that runs on a GRID architecture providing an amount of scalability and performance using commodity hardware platforms.
The GO TX System allows brokers a single platform that provides trading in multiple instruments such as equities, derivatives, mutual funds, commodities and currencies, providing access to multiple markets besides integrating the front, middle and back-office functions. The GO TX layered architecture also allows it to integrate internet access, desktops and other user access devices into a single platform.
A GO TX brokerage customer pays the company on a pay per use model. Under this model, the company provides access to all its solutions and technologies by pricing it on a usage basis. GO TX provides continuous updates of its software to its customers.
This helps brokerages to focus on their business rather than worry and manage technologies that are constantly changing and evolving, also eases pressure of continuous capital investments.
For large brokerage firms, GO TX value proposition is that it provides an amount of operational efficiency as a result of its single integrated platform. The integration allows brokerage firms, complete control over their large span of business operations in real-time. The CEOs of brokerage firms can get a comprehensive view of their trading assets and liabilities in real-time. Brokerage firms will have a better control of their operations on a volatile day deploying the GO TX platform.
Chandra Balaraman, founder and CEO of GO TX, said: “Our trading platform for brokerages is what ERP is to manufacturing. With proven technologies in place, we needed a partner who can fuel our growth and also provide access to various global markets. We are excited to join the Polaris family that has a large reach and reputation as a cutting edge solution provider to large financial institutions.”
Arun Jain, founder, chairman and CEO of Polaris Software, said: “GO TX leverages modern technology of Software as a Service (SaaS) to offer trade based pricing. In effect, brokerage houses can move away from technology related concerns completely and enjoy the freedom of ‘pay as you grow’.