The integration of these two businesses will be beneficial for high-frequency traders and others, as they can avail an open and flexible EMS together with Mantara’s pre-trade risk functionality and ultra-low latency direct market access, said the firm.
According to UNX, its Catalyst execution management system, offers an open, scalable broker-neutral EMS and electronic trading platform that streamlines trader workflow with seamless access to its companion Marketplace which hosts diversified products and services from third-party vendors, information providers, exchanges, ATSs, and broker-dealers.
The Marketplace also caters a virtual financial apps store for research, news and media feeds, and trading tools, algorithms, order routing and analytics from brokerages and investment banks, claims UNX.
Expressing his views on the deal, Mantara president and CEO Michael Chin said that driven by client demand for a next generation EMS coupled with its risk system, the firm sought technology based on a shared philosophy.
"UNX’s innovative Catalyst suite shares the same guiding principles underlying our ultra-low latency technology," Chin added.
"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."
Broadhaven Capital Partners provided financial advice and Crowell & Moring served as legal counsel to UNX, while Lowenstein Sandler served as legal counsel to Mantara.
