Macgregor, a global provider of buy-side trade-order-management systems (OMS) and FIX-network services, announced that Chicago Equity Partners, LLC has selected the Macgregor Financial Trading Platform (MFTP) to automate its equity- and fixed-income trading. Chicago Equity Partners, LLC selected the Portfolio Manager Workstation, Compliance, and the Macgregor FIX Network (MFN) components to support all aspects of their trading process. The system has been rolled out to 10 users in their Chicago office. Macgregor replaces Longview's OMS.
Investment Technology Group, Inc., a provider of technology based equity-trading services, announced that TriAct, a continuous intra-day equity-trading system, will officially commence operation on June 19, 2002. TriAct is a zero-information-trading environment, in which standing-portfolio and single-stock orders are executed against each other, as well as against a continuous flow of market and marketable-limit orders. Transactions are executed within the bid/offer spread.
Apt Computer Systems Limited, a provider of FIX (Financial Information eXchange) engines and connectivity software tools for the financial world, announced the release of its FIXcel software product. Apt has developed FIXcel in response to market demands, particularly from those traders who already use Excel to help with the trading process.
To meet the complex servicing needs of its growing number of private-equity clients, PFPC Inc., a member of The PNC Financial Services Group, Inc. and the nation's largest full-service mutual-fund-transfer agent and second largest provider of mutual-fund-accounting services, announced that it has expanded its alternative-investment-services offering to include a specialized accounting and partnership-allocation system that automatically accommodates certain sophisticated private-investment structures.
Advent Software, Inc. announced it has signed a definitive agreement to acquire privately held Techfi Corporation, a software, technology and services provider to the financial intermediary market. Advent will purchase all outstanding stock of Techfi for approximately $23 million in cash. Techfi's employees from its Denver, Colo. facilities will join Advent. The transaction is expected to close in the next few days.