Derivatives exchange operator CME Group Inc. is set to acquire NEX Group plc for an estimated $5.5 billion and, if all goes well, the combined provider of transaction processing across futures, cash and over-the-counter (OTC) instruments will be able to offer many post-trade capabilities beyond clearing services. The CME Group encompasses: CME Clearing; the Chicago… Read More >>
Itiviti Completes Acquisition of Ullink
Itiviti and Ullink are merging and taking steps to leverage their combined resources to become “a full-service technology and infrastructure provider” for financial institutions across the globe, according to the board of directors of Itiviti. The official announcement that Itiviti acquired Ullink was made public on March 14; both companies declined to reveal financial information… Read More >>
SS&C Buys North American Branch of CACEIS
Investment solutions and services giant SS&C Technologies Holdings, Inc. is acquiring CACEIS North America, the fund administration business of CACEIS, for an undisclosed amount and will be folding the business and staff into SS&C GlobeOp’s alternatives business. The parent company, CACEIS, describes itself as a Paris-based asset servicing group of Crédit Agricole bank, “providing execution,… Read More >>
Vermeg Finalizes Acquisition of Lombard Risk
European banking and insurance software vendor Vermeg has completed its acquisition of Lombard Risk, a collateral management and regulatory reporting solutions vendor, described as “a key milestone” in Vermeg’s bid to become a major player in the financial services solutions realm, officials say. The acquisition will add collateral management operations, regulatory reporting and compliance products… Read More >>
Temenos Offers to Buy Fidessa for $1.96 Billion
Temenos and Fidessa announced February 21 that their governing boards reached agreement on an all-cash $1.96 billion (£1.4 billion) acquisition whereby Temenos will own Fidessa via the subsidiary Temenos Bidco in an effort to capitalize on “a huge opportunity to combine the complementary product strengths” of the two vendors. The agreement specifies that Fidessa shareholders… Read More >>
Barclays to Lay Off 1,000 in Investment Banking
Barclays will be shrinking its investment banking staff in Asia and elsewhere by 1,000 or so as a result of the bank’s decision to exit markets that are proving to be a challenge for global financial services firms. Overall, the investment bank of Barclays “will continue to focus on its two home markets in the… Read More >>
Advent Software to Undergo Cultural Changes
Advent Software will be going through some cultural changes once it officially becomes part of SS&C Technologies either during the current quarter or the third quarter of this year, says Pete Hess, president and CEO of Advent Software, in an exclusive interview with FTF News. Hess and Bill Stone, chairman and CEO of SS&C, spoke… Read More >>
