Technology services provider Pico has announced the acquisition of Redline Trading Solutions, trading and market data software solutions provider.
Following the acquisition, Redline’s multi-asset software solutions will provide access to a common API for global markets, both real-time and historical, delivered through Pico’s global network. This offering will reduce complexity by allowing trading firms to optimize market access and coverage and trading stack performance.
Jarrod Yuster, Chairman, Founder and Co-CEO of Pico, commented:
Jarrod Yuster Source: LinkedIn
As the trading environment becomes more globalized and continues to produce increasing amounts of data, clients are seeking greater efficiency in market infrastructure services and data consumption. Financial institutions want a trusted and globally comprehensive technology partner who understands their business, the market landscape and how to apply technology solutions. Combining Redline’s premier ultra-low latency trading and software solutions with Pico’s broad infrastructure, cloud and data offering, and industry leading Corvil Analytics, positions Pico uniquely to address these client needs and market challenges.
Redline’s ultra-low latency software solutions and common APIs reach more than 180 global venues. The company serves clients such as global banks, quantitative hedge funds, electronic trading firms, ETF market-makers and exchanges.
With steady investments in the software solutions provider, Redline’s service offering will be become fully and globally comprehensive. This will allow the company to deliver real-time and historical normalized financial market data including consolidated, delayed or end-of-day formats through wire protocol or API, available in available in Pico’s financial cloud. Pico’s clients will be able to adopt a suite of common solutions in all regions supported by Pico’s global operations and service model.
There is a significant addressable market for global data consumption via software and a common API, and we will continue to invest in Redline further leveraging Pico’s global network and infrastructure coverage.
Mark Skalabrin, Founder and CEO of Redline, said:
Pico has built one of the most comprehensive global platforms in our industry, and I am excited that Redline will now be part of their ongoing success. We have partnered on past initiatives, and we will now be able to access Pico’s globally deployed service organization, leading analytics and infrastructure footprint to scale our offerings to more geographies
The acquisition will further add to Pico’s growth strategy with the addition of Redline’s fully recurring revenue stream and high-margin business through increased client opportunity and a further expansion of in-house expertise. The move follows a successful integration of Corvil Analytics, financial markets trade monitoring and performance platform which expanded Pico’s expertise into analytics and data science.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.