The NASDAQ OMX Group has agreed to acquire FTEN, the provider of real-time risk management solutions.
Financial terms of the deal were not disclosed.
Industry observers speculate that the exchange company is looking to add more offerings that deal with risk management and risk mitigation.
Eric Noll, executive vice president of transaction services at NASDAQ OMX, says: "FTEN's customer base is comprised of some of the leading broker dealers in the global market and its offerings are the most comprehensive in terms of functionality, asset class and market spread."
Ted Myerson, chief executive officer of FTEN, adds: "We recognized early on that demand for pre-trade risk management tools would dramatically increase as the regulatory environment evolved and the need for comprehensive risk controls moved from niche to mainstream. We are proud to have developed a solution that has given us a strong market position."
Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio