Sat, Nov 1, 2014
A A A
Welcome Guest
Free Trial RSS
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

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Macks aim to raise $750m for real estate debt fund[more]

    From Therealdeal.com: Father-son duo William and Richard Mack and former Blackstone Group managing director Peter Sotoloff are starting a new real estate debt fund. Together, the trio hopes to raise more than $750 million for the private equity fund, according to the Wall Street Journal. The fund wi

  2. Manager Profile - Seth Klarman: Lessons for retail and institutional investors[more]

    From Valuewalk.com: Seth Klarman is virtually unknown outside value circles, despite his impressive record and value of assets under management. On average Baupost has returned 19% p.a. despite holding a large portion of its assets in cash. During the financial crisis, Seth Klarman’s funds lost some

  3. North America - FATCA leads 75% of U.S. expats to consider dropping citizenship[more]

    From International-adviser.com: Nearly three quarters of American expats are considering the renouncement of their citizenship following July’s introduction of the “absurd” Foreign Account Tax Compliance Act (FATCA). The findings, which were revealed in a survey by deVere, come alongside the news th

  4. New app allows asset managers easy interaction with portfolios, securities, holdings, transaction details[more]

    Komfie Manalo, Opalesque Asia: Global financial services software company SS&C Technologies Holdings has launched Explorer, a powerful data visualization and analysis tool that turns critical investment data into meaningful information. Explore

  5. Opalesque Exclusive: Mariner’s new healthcare mandate applies strategic approach across pharmaceutical and biotech sectors[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A team of two was hired in February this year t