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Trading technologies are being adopted by 7RIDGE

CHICAGO, October 31, 2021 / PRNewswire / – Trading Technologies International, Inc., (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, today announced that it has agreed to be acquired by 7RIDGE, a specialist growth public company, to invest in transformative technologies . 7RIDGE will drive the organic growth of Trading Technologies and enable the company to make targeted strategic acquisitions going forward. Cboe Global Markets, Inc. (Cboe: CBOE) and Singapore Exchange (SGX), which are limited partners in the fund managed by 7RIDGE, have voted in favor of the transaction. The terms of the transaction, which is expected to close before year-end, subject to regulatory approvals, were not disclosed.

7RIDGE’s acquisition of Trading Technologies recognizes the company’s 27 years of leadership in derivatives trading software, the value of its new state-of-the-art Software-as-a-Service (SaaS) platform TT® and the talent of Trading Technologies global team includes 13 Offices on four continents. Under this new ownership, Trading Technologies will remain independent and focus on delivering innovative, company-wide solutions for institutional and professional trading.

Tim Geannopulos, Chairman and CEO of Trading Technologies, said, “We were looking for the right strategic partner to help Trading Technologies realize the tremendous potential of our groundbreaking new technology platform and accelerate the expansion of its business and product roadmap. The Maintaining the firm’s independence will allow us to retain the incredible talent in our organization and further strengthen our relationships as valuable ally for our clients, partners and the industry. We are excited to have 7RIDGE and its strategic limited partners including the global Exchanges Cboe and SGX believes in the future of our company and our vision to become the operating system of the capital markets. “

It is expected that Geannopulos will leave his current position shortly after the acquisition is completed but will remain actively associated with the company. It is intended that Keith Todd will then be appointed CEO of TT to lead the company as it enters this next phase of growth. Todd has over 20 years of industry leadership in financial markets technology with FFastFill, ION and currently KRM22.

Todd said, “Trading Technologies has built an exceptional global client base and relationships with exchanges around the world, as well as robust technology and a dedicated, experienced team. The company has an aggressive roadmap for product and market expansion. I’ve been around for a long time Firmly believes that SaaS will bring its customers better technology, greater cost savings and more efficient use of resources. I am excited to have this opportunity to lead TT into the next phase of transformation with its stellar new SaaS platform and infusion of growth capital from 7RIDGE. “

Carsten Kengeter, Founder of 7RIDGE, said: “We thank TT shareholders for choosing us and look forward to accelerating the company’s dedicated contribution to the success of its customers and users. The company has the market-leading SaaS-based, modular, multi-tenant platform for professional derivatives trading that will add new efficiency and strength to the global financial system. Our own operational experience and that of our limited partners will strengthen TT’s position as the operating system of the capital markets. “

TT was advised on the transaction by Broadhaven Capital Partners and Sullivan & Cromwell LLP.

About trading technologies
Trading Technologies (www.tradingtechnologies.com, @Trading_Tech) creates professional trading software, infrastructure and data solutions for a wide variety of users, including proprietary traders, brokers, money managers, commodity trading advisors (CTAs), hedge funds, commercial hedgers and risk managers or aside from access to the most important international stock exchanges and liquidity centers in the world via its TT® trading platform, TT offers domain-specific technologies for cryptocurrency trading and machine learning tools for trading monitoring.

SOURCE Trading Technologies

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