Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

REDI launches, completes acquisition of Instaquote

Thursday, June 12, 2014

Bailey McCann, Opalesque New York:

11 months ago, REDI spun-out from Goldman Sachs and has sense made updates to its product offering along with strategic acquisitions in order to create a broker agnostic technology platform for financial services. Today, the company announced that it has completed its acquisition of Bank of America Merrill Lynch's Instaquote. The acquisition included technology, clients, and employees.

Instaquote was REDI's first acquisition as an independent company and has accounted for a 20% increase in clients, along with the addition in headcount internally. Clients of Instaquote have been migrated to the REDIPlus system.

With the combined features, REDIPlus now offers a middle-office services, clearing, prime brokers, and expanded risk management capabilities. "This is the thought behind the spin-out, before we were just serving Goldman and now we can serve the financial services industry in addition to Goldman," Rishi Nagalia CEO of REDI tells Opalesque.

The company is also building out a large second office in Dallas Texas that will handle customer service and product support. REDI now integrates to all of the bulge bracket brokers across exchange traded asset classes. An SDK is also available for the developer community to customize parts of the REDI offering.

Users of REDI include not only the bulge brackets but also hedge funds, sovereign wealth funds, and family offices. Nagalia noted that the next phase will be wor......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1