In the broader financial technology industry this year, consolidation was king. It’s hard to think of another 12 months in recent memory that have seen such wholesale change in the third-party vendor market, whether that’s the continual growth of stalwarts such as SS&C Technologies, or the end of independent existence for long-time actors like Charles River, Fidessa and even Eze Software.
Our reporting on this topic this year has generally been focused around providing the client reaction to the stories, and analyzing what this means for the market. Others may break the stories we cover, but you’d be hard pressed to find any other place where such rigorous reporting has taken place around what these moves actually mean for the industry, across longform reporting, podcasts and opinion columns. The best of this year’s reporting is below.
Questions Raised on State Street and Charles River’s Boston Wedding
We spoke with dozens of buy-side clients for Charles River, one of the pre-eminent buy-side technology vendors, shortly after it announced that State Street would be buying it for an eye-watering $2.6 billion. As possibly the seminal deal of 2018, this is an essential primer for anyone looking for background on the deal.
Listen: Anthony Malakian and James Rundle discuss the deal in the immediate aftermath on the podcast.
SS&C Flirts with Further Acquisitions after Fidessa
SS&C Technologies, a firm that has grown significantly through M&A (the first WatersTechnology story in our archive about SS&C’s acquisition habit is from 1994), makes no bones about the fact that it has its sights on potential acquisitions after its failed attempt to lure Fidessa to its stable. This would, of course, be followed up by…
Listen: The WatersTechnology team discusses SS&C’s plans on the Waters Wavelength Podcast.
The Next Domino: SS&C Buys Eze Software
We had reported in our coverage of the Charles River-State Street deal that Eze may well be an attractive acquisition target for Bill Stone’s SS&C Technologies, a prediction that was borne out a mere few days later when the firm announced it would be snapping up the Boston-headquartered vendor.
Thomson Reuters, Blackstone Agree $20B Financial & Risk Unit Spin-Off
Blackstone led a consortium that kicked the year off with a bang when it announced that it would be buying Thomson Reuters’ storied Financial & Risk business, which would later be rebranded as Refinitiv.
Listen: Max Bowie, managing editor of WatersTechnology, joins the news team on the podcast to give his thoughts on what the deal means.
NEX CEO Sees Opportunity for Opportunities after CME Deal
NEX had long been rumored to be on the block, despite its relatively young age—the company was formed from the remnants of Icap after its partial acquisition by Tullett Prebon—but the CME was a wildcard acquisitor that few saw coming. Here, NEX CEO Michael Spencer also says its venture arm will remain after its acquisition.
Listen: WatersTechnology’s New York newsroom discusses the implications of the CME-NEX tie-up on the podcast.
Fintech Fever Grips M&A with Fidessa Acquisition Offer
Temenos made a play for Fidessa in the early months of 2018. While it would end up losing out to Ion Investment Group, much of the structure, of the original deal remained in place, meaning many of our team’s original observations will likely still hold.
Listen: Victor Anderson, editor-in-chief of WatersTechnology, joins the podcast to reminisce about Fidessa’s history in the markets—with more than a few entertaining stories.
S&P Global Makes $550 Million Bet on AI with Kensho Buy
In terms of unexpected acquisitions, this almost topped the list for 2018, until the monster purchase of Charles River by State Street. The Goldman Sachs-backed analytics startup, Kensho, apparently found a home it can live with in S&P Global, which plans to use its artificial intelligence nous extensively in the future.
Listen: The WatersTechnology team discusses the Kensho acquisition, and how fintechs are being more disruptive than ever—just in ways that weren’t exactly predicted.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Waters Wavelength Podcast: Broadridge’s Joseph Lo on GPTs
Joseph Lo, head of enterprise platforms at Broadridge, joins the podcast to discuss AI tools.
Man Group CTO eyes ‘significant impact’ for genAI across the fund
Man Group’s Gary Collier discussed the potential merits of and use cases for generative AI across the business at an event in London hosted by Bloomberg.
BNY Mellon deploys Nvidia DGX SuperPOD, identifies hundreds of AI use cases
BNY Mellon says it is the first bank to deploy Nvidia’s AI datacenter infrastructure, as it joins an increasing number of Wall Street firms that are embracing AI technologies.
This Week: Linedata acquires DreamQuark, Tradeweb, Rimes, Genesis, and more
A summary of some of the latest financial technology news.
Systematic tools gain favor in fixed income
Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.
Euronext microwave link aims to cut HFT advantage in Europe
Exchange plans to level playing field between prop firms and banks in cash equities with cutting edge tech.
Why recent failures are a catalyst for DLT’s success
Deutsche Bank’s Mathew Kathayanat and Jie Yi Lee argue that DLT's high-profile failures don't mean the technology is dead. Now that the hype has died down, the path is cleared for more measured decisions about DLT’s applications.
‘Very careful thought’: T+1 will introduce costs, complexities for ETF traders
When the US moves to T+1 at the end of May 2024, firms trading ETFs will need to automate their workflows as much as possible to avoid "settlement misalignment" and additional costs.
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Deutsche Börse democratizes data with Marketplace offering
- Sell-Side Technology Awards 2024: All the winners