MarketAxess Holdings that operates one of the platforms for the electronic trading of corporate bonds and other types of fixed-income securities, has acquired substantially all the assets of Trade West Systems, a financial software innovator.
Trade West Systems-branded (TWS) products acquired by MarketAxess in the transaction also include customizable front-end and middle-tier pricing and trading solutions for the fixed-income and equities markets.
In addition to TWS’ portfolio of software adapters, the transaction provides MarketAxess with TWS’ growing technology consulting services practice and extensive experience in developing and marketing technology solutions to financial services firms.
Kelley Millet, president of MarketAxess, stated: TWS has developed a superior portfolio of connectivity software that will help us further deepen our integration into investor and dealer trading workflows.
Direct connectivity with client order management systems makes our trading solutions more efficient for our clients, and is a critical driver of secondary trading volumes. In addition, we believe that TWS will be instrumental in accelerating the growth of our technology services business.
Andrew Kelley, founder and CEO of TWS, said: As a market leader in electronic trading, MarketAxess is the ideal place for us to speed the development and distribution of our Prooms product portfolio and broaden our nascent technology consulting services business.