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July 11, 2012

Mantara Gets EMS Via UNX Buy

By John D'Antona Jr.


The acquisition of UNX by Mantara, announced in June, is expected to make life easier for some traders, as it will result in the merging of two separate platforms.

Mantara sells connectivity and risk-checking services to high-frequency traders from Jersey City, N.J. UNX sells an execution management system to hedge funds from Los Angeles. Mantara will now combine UNX Catalyst EMS with its high-speed infrastructure, providing its customers with a single platform.

Both buyside and sellside clients requested the firm expand its offerings and get an EMS, said Mantara chief executive Michael Chin. Pre-trade front-end systems and back-end trade execution can now be accessed via a single platform.

The firm did not have an EMS to offer clients prior to this transaction.

"Once the decision was made to pursue the purchase of UNX, the process itself-from due diligence through negotiations and closing-went extremely quickly," Chin said.

Chin added that the only challenges faced in transitioning clients were related to clients who did execution business with UNX LLC-prior to the purchase, when it was a full-service agency broker-dealer.

UNX operates both as a technology vendor and a broker-dealer. Mantara did not purchase UNX's broker-dealer operations or its license.

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