Fri, Mar 27, 2015
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. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. Other Voices: The role of diversification in CTA portfolios[more]

    2014 brought a resurgence of managed futures strategies, or CTAs, which performed very well as a whole, outperforming all other hedge fund strategies. However, a closer look reveals that there was a wide range of performance, or return dispersion, across managers. The bottom line? Not all CTAs

  4. Neuberger Berman unit buys 20% stake in activist hedge fund Jana Partners for $2bn[more]

    Komfie Manalo, Opalesque Asia: Neuberger Berman’s unit Dyal Capital Partners bought a 20% stake in activist hedge fund firm Jana Partners worth $2bn, WSJ.com reports. The deal comes as activi

  5. Hedge fund launches fall again, $1bn funds found to outperform even smaller hedge funds[more]

    Komfie Manalo, Opalesque Asia: The number of new hedge fund launches fell again in 2014, the third consecutive year of decline, while fund liquidations saw their first drop since 2010, according to the latest HFR Market Microstructure Industry Report released by industry data provider HFR. Acc

 

banner