Welcome!

News Feed Item

ULLINK to Acquire NYFIX and Metabit from Intercontinental Exchange

ULLINK, a leading provider of electronic trading solutions and connectivity to the financial community, has entered into an agreement to acquire NYFIX and Metabit from NYSE Technologies, part of Intercontinental Exchange (NYSE: ICE). The transaction, which is subject to regulatory approval, is expected to close in the third quarter of 2014.

The combination of ULLINK, NYFIX and Metabit creates a genuine player of real scale and a true challenger to the incumbent operators, offering new choice and sophistication to a global customer base. The combined business will be made up of 500 employees, with offices across many of the world’s leading trading centres, servicing over 2,000 clients. The new organisation will have combined revenues of over $130m.

Both NYFIX and Metabit are highly complementary to ULLINK’s existing strengths and will serve to accelerate the company’s growth ambitions. NYFIX’s proprietary trading technology, in particular its “MarketplaceTM” connectivity network, has a strong buy side customer penetration, which complements ULLINK’s core strengths in its sell-side platform offerings. Metabit is a leading Tokyo-based provider of high performance market access products in a unique but valuable community servicing the Asian market.

The strategic rationale for the transaction is very clear. The combination gives ULLINK enhanced buy-side penetration, a powerful footprint in the US market and increased access to the pan-Asian markets. It will also enable NYFIX and Metabit to benefit from ULLINK’s innovative product development values and an outstanding sales & marketing distribution network, whilst becoming part of a group dedicated to and wholly focused on the provision of global trading technology solutions.

The transaction further strengthens ULLINK’s position amongst the other global trading technology solution providers. It is ULLINK’s stated aim that together with NYFIX and Metabit, the combined group will reduce technology friction by being the normalisation layer for the enlarged community’s membership. By easing the buy side access to the sell side and continuing to provide leading edge solutions for the sell side, it is expected to ignite innovation across the spectrum. As the central hub of the community, ULLINK’s ambition is to be the premier technology partner, matching needs with innovative solutions.

The combined company will be merged to operate under the ULLINK brand and will continue to be led by ULLINK Founder and CEO Laurent Useldinger. The merging of the businesses will result in a well-balanced client community, a comprehensive and complementary product range and a deepening of expertise across global markets. Scott Fitzpatrick, COO of NYFIX will become MD of the NYFIX Services business line of the enlarged group and Daniel Burgin, CEO of Metabit, will become COO – ASIA for the enlarged group.

In March 2014, HgCapital, Europe’s leading private equity investor in mid-market technology companies, acquired a majority stake in ULLINK, investing alongside Laurent Useldinger and the current management team. The aim is to grow, both organically and by acquisition, a truly global provider of financial trading technology solutions.

Perella Weinberg Partners UK LLP acted as exclusive financial adviser to HgCapital in connection with the acquisition.

Laurent Useldinger, CEO and Founder of ULLINK commented:

“This is a transformational transaction for ULLINK which significantly accelerates our growth plans, while creating a true global player in the provision of trading technology products and services. The ULLINK, NYFIX and Metabit businesses and products represent an excellent strategic fit with each other. We also share a strong client led culture and commitment to both customer service excellence and leading edge technology. By building on the strengths that each company brings to this combination, I am confident we will continue to grow rapidly.

Our increased scale and strengths will produce a substantial challenger in the market, delivering benefits for the entire trading technology user base, across all asset classes. For the first time, the financial community will have real choice which will allow them to benefit from our collaborative style, exceptional technical expertise and truly innovative solutions.”

About ULLINK

ULLINK is a global provider of multi-asset trading technology and infrastructure for buy-side and sell-side market participants. Trusted by over 150 of the world’s top-tier banks and brokers, it provides consistent, reliable access to the most current and innovative solutions available. Since 2001, ULLINK has established itself as one of the fastest growing technology companies in the industry. ULLINK manages over 450 trading platforms daily, is connected to more than 100 of the world’s leading liquidity and exchange venues and offers over 700 different FIX and API adapters. ULLINK has offices in New York, Toronto, London, Paris, Hong Kong, Tokyo, Singapore, São Paulo, Cluj and Sydney. For further information, please go to www.ullink.com.

About NYFIX

A pioneer in electronic trading solutions, NYFIX continues to transform trading through innovation. The NYFIX Marketplace™ is a global community of trading counterparties utilizing innovative services that optimize the business of trading. A trusted business partner to the buy-side and sell-side alike, NYFIX enables ultra low touch, low impact market access and end-to-end transaction processing.

About Metabit

Built in Asia for Asia, Metabit’s portfolio of products has been designed exclusively for low-latency DMA trading solutions and exchange connectivity to markets in Asia, connecting buy side order flow with sell side exchange participants. Skilled with in-depth experience and understanding of financial markets in Asia, Metabit specializes in streamlined, low-latency technology solutions that enable industry-leading access to financial markets across Asia. Metabit’s products connect buy side order flow with sell side exchange participants and are designed exclusively for low-latency direct market access (DMA) and exchange connectivity to markets throughout Asia.

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
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...