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FlexTrade acquires Derivix

First Published 29th June 2012

Transaction will create options solution for analytics, risk management & execution

Vijay Kedia, President and CEO, FlexTrade

Vijay Kedia, President and CEO, FlexTrade

"With their impeccable reputation in the derivatives market and commitment to broker-neutrality, it was clear Derivix was an ideal fit for us."

Great Neck, New York - FlexTrade Systems has acquired Derivix, the options software provider for the equities and derivatives markets. Financial terms of the deal were not disclosed.

The transaction brings to FlexTrade Derivix's all-in-one options trading solution for pricing, real-time analytics, portfolio risk management, and multi-broker electronic execution. The Derivix platform will be combined with FlexTrade's FlexOPT trading platform and the entire Derivix team will join the FlexTrade organization.

"With their impeccable reputation in the derivatives market and commitment to broker-neutrality, it was clear Derivix was an ideal fit for us." said Vijay Kedia, President and CEO of FlexTrade. "This acquisition will give traders a sophisticated, integrated system that will blend Derivix's proven capabilities in portfolio risk management, scenario analysis and execution management with FlexTrade's multi-asset capabilities, including a rich set of APIs, customizable algorithmic trading, dispersion trading, options market making, smart order routing and advanced real-time scanning."

"We're very excited about the acquisition," said Chris Higginson, President of Derivix. "FlexTrade's resources in technology, infrastructure, expertise and R&D will significantly expand our capabilities for customers. Their comprehensive OMS/EMS platform will not only provide direct access to all US options exchanges, but also give our customers access to more than 100 broker-provided DMA links and algos. All in all it's a win-win situation for current and future clients."

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