Mantara Acquires UNX
Low-latency market access provider Mantara has announced its acquisition of execution management system (EMS) vendor UNX.
Mantara will integrate its expressWay pre-trade analytics and low-latency direct market access (DMA) infrastructure with UNX's Catalyst EMS to create a software suite tailored for high-frequency and high-speed traders. The package is to be delivered on a broker-neutral, software-as-a-service basis.
The acquisition of UNX also gives Mantara the company's Marketplace, which is pitched as a virtual financial app store for research, algorithms and more.
"Driven by client demand for a next generation EMS coupled with our state-of-the-art risk system, we sought technology based on a shared philosophy," says Michael Chin, president and CEO at Mantara. "UNX's innovative Catalyst suite shares the same guiding principles underlying our ultra-low latency technology. We are extremely excited by the prospects for our combined offering and believe that together we bring a compelling solution that meets the rapidly evolving trading and compliance requirements of the buy and sell side amidst this challenging market environment."
New Jersey-headquarted Mantara will take on the UNX staff with the technology, based out of Los Angeles and New York.
Driven by client demand for a next generation EMS coupled with our state-of-the-art risk system, we sought technology based on a shared philosophy.
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