Refinitiv acquires AlphaDesk to expand buy-side solutions
Financial markets data and infrastructure provider Refinitiv has added a cloud-based Order Management System (OMS) to its buy-side solutions by acquiring AlphaDesk, reports Jane Connolly.
Refinitiv’s flagship financial platform Eikon is already integrated with its execution management system (EMS) trading capabilities from REDI, which it acquired in 2017. With the addition of AlphaDesk, Refinitiv can now offer a multi-asset class and multi-currency OMS platform with flexible, adaptable workflows.
The company states that with its combination of OMS and operations management capabilities for managing data and integrating with other systems involved in the buy-side investment workflow, AlphaDesk will have benefits for both traders and traditional buy-side portfolio managers.
Michael Chin, managing director and co-head of trading at Refinitiv, says: “With the acquisition of AlphaDesk, Refinitiv now delivers an even more powerful buy-side trading solution that is flexible, compliant, interoperable and covers all segments of the trading workflow.”
He adds: “As a cloud-based provider, AlphaDesk further aligns with Refinitiv’s overall cloud strategy and will help provide a more seamless path to implementation and integration, yielding significant cost savings and agility for our clients.”
Financial details of the deal, which is expected to close in the second quarter, have not been disclosed.