SMARTTRADE-TICKTRADE JOINT EFFORT FOR GLOBAL LEADERSHIP IN SAAS FX TRADING PLATFORMS

KUALA LUMPUR, Nov 23 -- smartTrade Group (smartTrade), a leader in multi-asset electronic trading solutions, has announced the acquisition of TickTrade Systems Inc (TickTrade), a Toronto-based technology firm providing next-generation FX trading and payments SaaS solutions for financial institutions.

Both companies provide liquidity management solutions and FX trading systems that enable financial institutions to develop and run high-performance trading platforms worldwide. Together the business will serve a truly global client base across North America, Europe and Asia.

The combination of smartTrade and TickTrade represents a compelling strategic fit providing customers with highly complementary SaaS, electronic FX trading products.

The combined company will deliver the best of both industry-leading FX trading technologies; smartTrade’s connectivity, aggregation, and risk management technology with TickTrade’s analytics, payments, and rich advanced distribution technology.

According to a statement, the company will operate under the smartTrade name and David Vincent, smartTrade’s CEO, will lead the combined organisation as its CEO.

TickTrade co-founders, Baha Ohcebol and Alexander Culiniac, maintaining senior management roles within the combined business, while also remaining significant investors in the group.

Hg, a leading software and services investor which has backed smartTrade since 2020, will remain majority investor in the combined group, along with longstanding investors Keensight and Pléiade Venture. The terms of the transaction were not disclosed.

For more information, visit www.smart-trade.net.

-- BERNAMA