Thursday, November 29, 2007
MarketAxess Nabs Utah's Trade West Systems
Electronic trading platform operator MarketAxess Holdings Inc. reported Wednesday that it has acquired financial software publisher Trade West Systems LLC of Salt Lake City, Utah. Terms of the transaction were not disclosed. Under the "ProOMS" product name, TWS' software functions as a gateway adapter for connecting order management systems, or OMS, and trading systems to fixed-income trading venues. Other TWS-branded applications serve as customizable front-end and middle-tier pricing and trading tools for the fixed-income and equities markets. In addition to TWS' product portfolio, MarketAxess said it will also gain access to TWS' growing technology consulting services business.