Capital markets infrastructure firm, Options Technology, has bought trading service Fixnetix from DXC Technology.
Fixnetix provides outsourced front-office trading services to a range of clients. These include investment banks, hedge funds, proprietary trading firms and exchanges.
The firm is part of DXC’s global banking and capital markets business, which its parent says delivers “mission-critical” services to financial services.
Options Technology offers “cloud-enabled managed services”. Starting out as a hedge fund company in 1993, it claims to have more than 200 institutional clients.
The vendor has support from Boston-based private equity firm, Abry Partners.
Danny Moore, Options president and CEO, says the transaction represents an opportunity to expand his firm’s service capabilities and “provide further value”.
He adds: “With the added managed services capabilities of Fixnetix, we are poised to accelerate innovation in trading technology infrastructure.”
Neither firm has disclosed the financials involved in the deal.
DXC Technology also operates the Hogan core banking system, an industry workhorse found at several large banks. Six of the ten largest US banks still use Hogan at the core.
The firm has taken steps to revamp Hogan, including a core partnership with digital banking firm Zafin.