Sat, May 27, 2017
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. Investing - Tudor Jones backs AI hedge funds, Massive hedge fund trades highlight insider buying: GE, Pentair, Tempur Sealy, Apollo Global and more, Hedge funds big wigs are buying consumer and selling tech, here's the stocks[more]

    Tudor Jones backs AI hedge funds From FT.com: Hedge fund magnate Paul Tudor Jones has invested in a brace of artificial-intelligence powered "quantitative" hedge funds, underscoring the increasing acceptance that the industry will need to turn more to technology and away from traditional

  2. Soon hedge fund investors won't bet on a man, they will bet on a machine[more]

    From Forexlive.com: The Wall Street Journal is in the midst of a 17-part series that looks at the rise of quant funds. The AUM and money invested in quant funds still trails traditional asset managers but the gap is closing. What's truly amazing is volume. Quant funds make up 27% of trading vo

  3. Investing - China's HNA wants to invest in Value Partners, Risk parity investors reap rewards from rebalancing act, SoftBank's $100 billion tech fund rankles VCs as valuations soar[more]

    China's HNA wants to invest in Value Partners From Reuters.com: HNA Group has alighted on a logical, if pricey, target in Hong Kong. The deal-hungry Chinese travel conglomerate known for overpaying wants to invest in Value Partners, one of Asia's few sizeable independent asset managers,

  4. Opalesque Exclusive: Investors warm to ESG, but seek standardization[more]

    Bailey McCann, Opalesque New York: Asset managers and asset owners plan to double their investment in Environmental, Social and Governance (ESG) driven strategies over the next two years, according to a survey from BNP Paribas Securities Services. The report, "Great Expectations: ESG - what's nex

  5. Opalesque Roundtable: France's hidden strengths in AI and machine learning[more]

    Komfie Manalo, Opalesque Asia: All nations offer their strengths and weaknesses, but one that is undisputed is the quality of the French scientists, claimed Guillaume Vidal, co-founder of French technology startup Walnut Algorithms at the