Refinitiv to Acquire Buy-Side OMS Alphadesk

alphadeskRefinitiv is set to acquire cloud-based Order Management System (OMS), AlphaDesk, in a move to add a multi-asset class and multi-currency OMS platform with flexible workflows, adaptable to the differing needs of individual buy-side traders and asset managers. The deal is expected to go through in Q2 2019.

Refinitiv currently offers pre-trade data and analytics via its flagship financial platform Eikon, which is integrated with its EMS trading capabilities from REDI. This combination benefits both traders and traditional buy-side portfolio managers, given their converging roles.

Michael Chin, Managing Director and Co-head of Trading, at Refinitiv, commented:

“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. 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, Chief Executive Officer at AlphaDesk, said:

“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 world.”

Earlier this month, Refinitiv entered into an agreement to redistribute MarketAxess’ fixed income market data to Refinitiv’s customers via its Elektron Data Platform. The data made available through Refinitiv will MarketAxess’ Composite+ and Axess All pricing tools.

In late November 2018, Refinitiv boosted its already wide portfolio by starting to source Thai baht and Thai Baht Offshore data from its Matching platform which is Refinitiv’s anonymous central limit order book, effectively enhancing Thai Baht FX benchmarks.

In February 2019, MarketAxess was approved by the Dutch regulator AFM to operate a Multilateral Trading Facility (MTF) and act as a Data Reporting Service Provider (DRSP) in the Netherlands in order to ensure that UK and EU clients are provided with uninterrupted service and access to liquidity post-Brexit.

The former Financial and Risk business of Thomson Reuters has recently launched a new analytics solution for users of FXall: Trade Performance Analytics. The solution is designed to empower users to assess the quality of their historical execution, conduct like-for-like comparisons of liquidity providers, as well as make better-informed trade planning decisions.