Trading Technologies expands into global equities and options with TRAFiX acquisition

Trading Technologies has acquired equities and equity options trading technology provider TRAFiX, expanding the capital markets technology firm's multi-asset platform into global equities and strengthening its offering to buy-side and sell-side trading firms.The transaction, which closed on 30 September, will bring TRAFiX's order and execution management systems and FIX connectivity capabilities into Trading Technologies' cloud-based platform. Financial terms were not disclosed.The acquisition extends Trading Technologies' existing coverage of futures and options, foreign exchange, fixed income and cryptocurrency markets into equities and equity options.Chicago-based Trading Technologies said the combined platform will provide customers with a single architecture covering execution and order management, market and FIX connectivity, risk management, analytics, regulatory reporting and trade surveillance.The company said the expanded platform is designed to allow trading firms to consolidate fragmented technology infrastructures and reduce reliance on multiple legacy systems across different asset classes.The integration will also support pre-trade and intraday margin analytics, alongside cross-asset risk management and compliance workflows.Trading Technologies said customers will be able to access liquidity across exchange-traded and over-the-counter markets through a single connectivity layer, while using the platform to manage positions and risk across asset classes in real time.TRAFiX, which serves more than 200 customers and connects to more than 100 trading venues, provides OEMS technology and connectivity to broker-dealers, asset managers and proprietary trading firms.The deal represents another expansion of Trading Technologies' product offering beyond its established futures and options business, as capital markets firms increasingly seek to consolidate trading, connectivity and risk-management functions across asset classes.Houlihan Lokey served as lead financial adviser to TRAFiX, with Marks Baughan acting as co-adviser and Willkie Farr & Gallagher providing legal advice. Berenson & Company advised Trading Technologies on the transaction, while Goodwin Procter served as its legal adviser.