The acquisition reinforces the TT platform’s value proposition with a new product suite of algorithmic execution strategies, trading analytics and TCA services
CHICAGO and BOCA RATON, Fla., March 15, 2022 /PRNewswire/ — Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, announced today that it has acquired RCM-X, a technology provider of algorithmic execution strategies and quantitative trading products. TT made the announcement at a session with executives from many of the largest global financial institutions on day one of the 2022 International Futures Industry Conference in Boca Raton, Fla.. Both companies are based in Chicago.
The agreement marks the first acquisition since 7RIDGE acquired TT December 2021, as the tech company announced plans to grow the organization organically and through acquisitions. The terms of the transaction were not disclosed.
Keith ToddCEO of TT, said: “We are continuing our strategic plan at full speed and with this acquisition we have already further enhanced the power of the TT trading platform within the first three months of 2022. This acquisition of RCM-X, with their outstanding team, world-class execution tools and superior performance, reflects our commitment to continually expand our offering. Not only will we make the full suite of popular RCM-X products available to every TT user, we will access will be seamless for us to fully integrate the service into the TT platform.”
RCM-X offers a wide range of algorithmic execution strategies – designed, tested and developed using its proprietary high-performance technology stack – developed by experienced market practitioners and data scientists. The company also provides comprehensive trading analysis and independent transaction cost analysis (TCA) solutions, as well as backtesting and simulation services. RCM-X’s engineering team can work with clients to develop bespoke algorithmic strategies or fully automated solutions tailored to their trading goals.
Joe SignorelliCEO of RCM-X, said: “We are extremely proud of what we have built and achieved over the years and are excited to take our unique product suite, innovative technology and talented people to a whole new level as part of Trading Technologies bring to. TT is deeply embedded in the culture and day-to-day operations of so many companies, and its global market reach is a perfect fit for both our current footprint and the growth of our execution algorithms and software distribution business. TT clients will soon be able to take advantage of this, offering their own clients a wide range of advanced execution algorithms, in-depth trading analysis and independent TCA services from the TT platform that they use on a daily basis.”
Signorelli has over three decades of equity, futures and derivatives experience with a focus on quantitative and algorithmic trading, portfolio management and product development. He founded RCM-X in 2017 after seeing an opportunity to meet demand for institutional execution algorithms in the futures markets and to provide a research and development platform for the growing quantitative trading approach.
Todd added, “I’ve known Joe for a number of years and the TT team has a successful relationship with RCM-X that goes back much further. We were all impressed by the team’s extensive domain and statistical analysis expertise. This is a perfect fit for us and will bring tremendous benefits and growth for TT to our customers.”
About trading technologies
Trading Technologies (www.tradingtechnologies.com) creates professional trading software, infrastructure and data solutions for a variety of users including proprietary traders, brokers, money managers, commodity trading advisors (CTAs), hedge funds, commercial hedgers and risk managers. In addition to providing access to the world’s major international exchanges and liquidity venues via its TT® trading platform, TT offers domain-specific technology for cryptocurrency trading and machine learning tools for trade monitoring.
About RCM-X
RCM-X is a financial technology company that develops algorithmic execution strategies and quantitative trading products for institutional clients. Founded in 2017, the company leverages its specialized expertise in market microstructure and a data-driven approach to improve execution performance. For more information, visit: www.rcm-x.com.
SOURCE trading technologies
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