Mantara, a trading software provider that caters to high-frequency traders, has acquired UNX LLC, a provider of broker-neutral execution management systems.
High-frequency and latency-sensitive traders can now have access to an open and flexible EMS, Catalyst, coupled with Mantara’s pre-trade risk checking software and speedy direct market access products, according to Michael Chin, Mantara’s chief executive. The firm did not have an EMS to offer clients prior to this transaction.
The vendor did not purchase UNX’s broker-dealer operations or its license.
“We are committed to being a 100 percent independent, broker-neutral solution, and as a result are executing on a plan to transition the UNX Broker-Dealer clients to third party providers,” Chin said.
Both buy- and sellside clients requested the firm expand its offerings and get an EMS, he added, so pre-trade front-end systems and back-end trade execution could be accessed via a single platform.
The acquisition was completed on May 15.
Chin added that by aquiring UNX his firm also takes over a West Coast office, giving the New Jersey-based firm a strategic outpost that can exploit the area’s technology-centric workforce and develop new business in the Pacific-basin area.
“Our focus continues to be about broadening our regional and asset class coverage – the additional office presence reinforces this strategy, Chin said.
Mantara had no presence in the region before and even with the UNX acquisition, the company could expand its engineering and technology staff there further, he added.
