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ULLINK to Acquire NYFIX and Metabit from Intercontinental Exchange
|By Business Wire
|June 23, 2014 09:07 AM EDT
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
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
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
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
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
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.
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.
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.
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