Acquisition strengthens value proposition of TT platform with new product suite of algorithmic execution strategies, trade analytics, TCA services
CHICAGO/BOCA RATON, Fla., March 15, 2022 – Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, announced today that the firm has acquired RCM-X, a technology provider of algorithmic execution strategies and quantitative trading products. TT made the announcement at a session with leaders of many of the largest global financial institutions on the first day of the 2022 International Futures Industry Conference in Boca Raton, Florida. Both firms are based in Chicago.
The agreement represents the first acquisition since TT was acquired by 7RIDGE in December 2021, when the technology firm announced plans to grow the organization organically and through acquisitions. Terms of the transaction were not disclosed.
Keith Todd, CEO of TT, said: “We are moving full speed ahead on our strategic plan, and with this acquisition, have already further expanded the TT trading platform capability within the first three months of 2022. This acquisition of RCM-X, with its outstanding team, best-in-class execution tools and superior performance, reflects our commitment to continually broadening our offering. Not only will we make the full suite of popular RCM-X products available to every TT user, but access will be seamless as we fully integrate the service into the TT platform.”
RCM-X offers a broad range of algorithmic execution strategies – designed, tested and developed with its proprietary high-performance technology stack – built by experienced market practitioners and data scientists. The firm also provides comprehensive trade analytics and independent transaction cost analysis (TCA) solutions, as well as back-testing and simulation services. The RCM-X engineering team can work with clients to create bespoke algorithmic strategies or fully automated solutions tailored to their trading objectives.
Joe Signorelli, RCM-X CEO, said: “We’re extremely proud of what we’ve built and accomplished over the years and excited to bring our unique product suite, innovative technology and talented staff to an entirely new level as part of Trading Technologies. TT is deeply embedded in the culture and daily operations of so many firms, and its market access across the globe aligns optimally with both our current footprint as well as the growth of our execution algo business and software distribution. TT clients will soon be able to use and provide their own customers with a breadth of advanced execution algorithms, comprehensive trade analytics and independent TCA services from the TT platform they use every day.”
Signorelli has more than three decades of experience across equities, futures and derivatives, with an emphasis on quantitative and algorithmic trading, portfolio management and product development. He founded RCM-X in 2017 after recognizing an opportunity to satisfy the demand for institutional execution algorithms in the futures markets and provide a research and development platform for the growing quantitative approach to trading.
Todd added: “I’ve known Joe for a number of years, and the TT team has a successful relationship with RCM-X that goes much further back. We’ve all been impressed with the team’s deep domain and statistical analysis expertise. This is a perfect fit for us, and it will bring tremendous benefits to our clients and growth to TT.”
About Trading Technologies
Trading Technologies (www.tradingtechnologies.com) creates professional trading software, infrastructure and data solutions for a wide variety of users, including proprietary traders, brokers, money managers, Commodity Trading Advisors (CTAs), hedge funds, commercial hedgers and risk managers. In addition to providing access to the world’s major international exchanges and liquidity venues via its TT® trading platform, TT offers domain-specific technology for cryptocurrency trading and machine-learning tools for trade surveillance.
About RCM-X
RCM-X is a financial technology company that develops algorithmic execution strategies and quantitative trading products for institutional clients. The company was launched in 2017 and leverages its specialized expertise in market microstructure and a data-driven approach to improve execution performance. For more information, please visit: www.rcm-x.com.