Refinitiv is set to acquire AlphaDesk, a cloud-based order management system (OMS) that offers order and portfolio management, risk and compliance solutions for buy side clients.
Refinitiv currently offers pre-trade data and analytics via its flagship financial platform Eikon, which is integrated with its execution management system (EMS) trading capabilities from REDI. AlphaDesk will add a multi-asset class and multi-currency OMS platform with flexible workflows, which Refinitiv says in a release issued today, is adaptable to the differing needs of individual buy side traders and asset managers.
“Our past collaboration with AlphaDesk makes them a strong fit for us, and the integration of their platform with our existing products further expands Refinitiv’s presence as a premier trading solution for professionals across the buy side community,” says Michael Chin, managing director and co-head of trading at Refinitiv. “With the acquisition of AlphaDesk, Refinitiv now delivers an even more powerful buy side trading solution that is flexible, compliant, interoperable, and covers all segments of the trading workflow. As a cloud-based provider, AlphaDesk further aligns with Refinitiv’s overall cloud strategy, and will help provide a more seamless path to implementation and integration yielding significant cost-savings and agility for our clients.”
Dan Rissin, CEO of AlphaDesk, adds: “We are very excited about joining the Refinitiv team. There is great potential to provide hedge funds and asset managers what they have been asking for: a simpler way to acquire and manage better technology. The combination of our front-to-back, cloud-based system with Refinitiv’s global reach and extensive technology platform will help provide a truly superior offering to clients all over the word.”
The deal is expected to close in the second quarter.