Welcome!

News Feed Item

REDI Completes Acquisition of BofA Merrill Lynch’s InstaQuote®

REDI Global Technologies LLC (REDI), developer of the REDIPlus® execution management system (EMS), today announced that the firm has completed the acquisition of BofA Merrill Lynch’s InstaQuote® business, which includes the technology, clients, and employees.

Marking REDI’s first acquisition as an independent financial technology company, this integration represents a significant step in the firm’s continued and rapid growth. As REDI approaches its one-year anniversary as an independent company, the firm is expanding both in size and capability in order to deliver valuable new services to clients globally.

Clients of InstaQuote have been fully migrated to REDIPlus, increasing the firm’s client base by more than 20% and necessitating growth of platform capabilities. REDIPlus now offers a comprehensive suite of middle- office solutions, including deeper integration with a number of clearing and prime brokers and expanded risk management capabilities.

“Our product strategy is centered on how we can make trading better and serve clients across the trade lifecycle – the integration of the InstaQuote technology reflects this commitment,” said Goutam Nadella, Chief Product Officer of REDI. “By adding middle office functionality to REDI’s robust trading platform, we’re answering our client demands for simplified and integrated workflows.”

The integration also brings 30 former InstaQuote employees to the REDI team, who are all based at a new REDI client service center in Dallas, Texas. These employees bring with them years of experience within the electronic trading space.

“By integrating the InstaQuote and REDI teams, we can leverage our in-depth knowledge of electronic trading technology to deliver top-quality client services,” said Clayton Meadows, ex- Head of InstaQuote Business and current Head of Business Development – Americas at REDI. “We truly appreciate our clients’ patience through this transition. We have spent the past year integrating the technology to create a seamless experience for clients, and now we can offer an even larger team of experts and resources with decades of collective expertise.”

“Through the integration of InstaQuote, REDI is transforming electronic trading for the benefit of all market participants,” said REDI Board Member Bina Kalola, Head Global Equities Strategic Direct Investments, BofA Merrill Lynch. “We recognize the industry’s needs are changing, which further underscores the value of a broker-neutral platform like REDIPlus. As the industry evolves, we expect REDI to play a significant role in the consolidation of EMS platforms.”

About REDI Global Technologies

Broker-owned until July 2013, REDI is now an independent, industry-supported and consortium-owned financial technology company. With access to 97 percent of the world’s equities and derivatives electronic exchanges via broker networks, the REDIPlus® EMS provides a single platform for seamless order routing of equities, futures and options across the Americas, EMEA and Asia-Pacific.

REDI Holdings LLC (“REDI”) operates the REDIPlus® Execution Management System, a leading global technology platform offered across the Americas, EMEA and Asia-Pacific through its wholly owned subsidiary, REDI Global Technologies LLC, a registered U.S. broker-dealer and member of FINRA/SIPC, and through REDI’s global affiliates outside of the United States. To learn more, visit www.redi.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.