FlexTrade Acquires Derivix
June 28, 2012 | By: Flex Advantage
GREAT NECK, NY, June 28, 2012 – FlexTrade Systems, Inc., today announced it has acquired Derivix, a leading options software provider for the equities and derivatives markets. Financial terms of the deal were not disclosed.
The transaction brings to FlexTrade Derivix’s all-in-one options trading solution for pricing, real-time analytics, portfolio risk management, and multi-broker electronic execution.
According to Vijay Kedia, President and CEO of FlexTrade, the Derivix platform will be combined with FlexTrade’s FlexOPT tradingplatform to create a best-of-breed superset solution that will not only maintain, but significantly enhance the user experience traders expect from either platform. The entire Derivix team will join the FlexTrade organization.
“With their impeccable reputation in the derivatives market and commitment to broker-neutrality, it was clear Derivix was an ideal fit for us,” said Kedia. “This acquisition will give traders a sophisticated, integrated system that will blend Derivix’s proven capabilities in portfolio risk management, scenario analysis and execution management with FlexTrade’s multi-asset capabilities, including a rich set of APIs, customizable algorithmic trading, dispersion trading, options market making, smart order routing and advanced real-time scanning.”
“We’re very excited about the acquisition,” said Chris Higginson, President of Derivix. “FlexTrade’s resources in technology, infrastructure, expertise and R&D will significantly expand our capabilities for customers. Their comprehensive OMS/EMS platform will not only provide direct access to all US options exchanges, but also give our customers access to more than 100 broker-provided DMA links and algos. All in all it’s a win-win situation for current and future clients.”
About Derivix
Founded in 2005, Derivix is a financial services software company providing options pricing, risk visualization, and analytics solutions to the industry’s leading options traders, sales traders, and hedge funds. Derivix sets the new standard in analytics systems, offering customers the powerful tools they need to stay ahead in a rapidly evolving electronic marketplace. With a commitment to broker neutrality, Derivix provides customers the flexibility they need to fit solutions into any business structure. www.derivix.com.
About FlexTrade Systems, Inc.
Founded in 1996, FlexTrade Systems Inc. is the industry pioneer in broker-neutral algorithmic trading platforms for equities, foreign exchange and listed derivatives. With offices in North America, Europe and Asia, FlexTrade has a worldwide client base spanning more than 150 buy- and sell-side firms, including many of the largest investment banks, hedge funds, asset managers, commodity trading advisors and institutional brokers. For more information, visit FlexTrade Systems at www.flextrade.wpengine.com or follow news of the company on Twitter at www.twitter.com/flextrade.