IRESS Expands UK Presence With Proquote, Pulse Acquisitions
Acquisitions of Proquote and Pulse Software Systems expands IRESS' presence in the UK capital markets.
Market data vendor Proquote had been part of the LSEG portfolio since 2003, providing a multi-venue trading system, market data terminals, risk management, and best execution services. The acquisition also includes LSE Hub, a FIX order-routing business providing trade order connectivity between institutional investors and brokers.
Pulse is a portfolio management solutions provider for private asset managers acting on a discretionary basis for investment clients.
Both acquisitions are expected to close in Q4 2015.
"IRESS' presence in the UK across capital markets, wealth management and lending, forms an important part of IRESS' global operations," says Andrew Walsh, chief executive of IRESS. "Regulatory change and market demands mean there is an increasing need for unified, flexible and reliable technology solutions in the UK."
IRESS has also appointed Simon New as group executive (strategy) to oversee the integration of Proquote and Pulse into the firm's activities. New was previously a director in financial services at consultancy EY.
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