Saxo Bank has announced that the shareholders of algorithmic trading and big data analytics company BlackTree Investment Partners have reached an agreement with the firm to buy back the company shares held by Saxo Bank A/S.
At the same time Saxo Bank acquires the technology built by this partnership which begun in 2009, and this technology will now be integrated into Saxo Bank’s own trading infrastructure.
Claus Nielsen, Head of Markets with Saxo and former Board Member of BlackTree Investment Partners appointed by Saxo Bank said “Today’s announcement is in line with Saxo Bank’s overarching strategy of focusing on the Bank’s core competencies within trading and investment and enhancing shareholder value.
“Saxo Bank’s ambition is to continue to innovate to meet the trading needs of our clients and empower them to seize opportunities in the market. At Saxo Bank, we are delighted to continue working with BlackTree in a client capacity” concluded Mr. Nielsen.
For the official announcement from Saxo Bank, click here.