smartTrade Group has just revealed the acquisition of Toronto-based technology company TickTrade Systems Inc.
Both, smartTrade and TickTrade, deliver liquidity management solutions and FX trading systems which allow financial institutions to develop and run trading platforms around the globe. Their combined business will serve clients across North America, Europe and Asia.
Together the two firms will provide customers with complementary SaaS, electronic FX trading products. They will offer smartTrade’s connectivity, aggregation, and risk management technology in combination with TickTrade’s analytics, payments, and advanced distribution technology.
The combined organisation will operate under the smatTrade name and be led by smartTrade’s CEO, David Vincent. Baha Ohcebol and Alexander Culiniac, co-founders TickTrade, will maintain senior management roles within the combined business, while also remaining significant investors in the group.
David Vincent, Chief Executive Officer & Co-Founder at smartTrade Group, said:
For both smartTrade and TickTrade customers, the combination is extremely compelling. It brings two industry-leading technologies together – one complementing the other, creating a unique breadth and depth of product capabilities.
Baha Ohcebol, Co-Founder of TickTrade, commented:
This is great news for TickTrade customers. To have the backing of smartTrade and Hg means we can significantly build on and continue to innovate the products we know our clients highly value. This also offers further opportunities for product collaboration, wider distribution and cutting-edge innovation – meaning we can bring even better services to even more clients.
Alexander Culiniac, Co-Founder of TickTrade, added:
This is great news for TickTrade’s customers who have supported us and for employees who have worked so hard to build the business to this stage since we first founded TickTrade back in 2013. smartTrade is a highly innovative company and this next move in the business’ history supports our vision to be the premier integrated trading technology partner for financial institutions, providing innovative and world-class solutions across all asset classes.
Software and services investor which has backed smartTrade since 2020, Hg, will remain majority investor in the combined group, along with longstanding investors Keensight and Pléiade Venture. The terms of the acquisition deal have not yet been disclosed.
smartTrade Technologies recently revealed the expansion of its partnership with Japanese FX infrastructure solution and liquidity provider SBI Liquidity Market.
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.