Patsystems expands derivatives presence with Tamesis takeover

Trading technology specialist Patsystems has bought the loss-making financial software company Tamesis, in a move that it expects will allow it to develop its derivatives market presence.

"The addition of Tamesis allows us to enter the wider derivatives market, better leverage our global presence and scale and help us move further towards our longer-term aim of providing a wide portfolio of trading and risk management tools across the range of asset classes our customers require," said Patsystems chief executive Kevin Ashby.

Patsystems will pay £61,901 cash and an earnout in shares of up to £3.5 million over the next two years for Tamesis, which is privately owned. In return it will take over Tamesis' Risk Informer and Credit Trader software products, and plans to integrate them with its own products in the longer term.

Patsystems is already active in the derivatives market, specialising in equity futures and options trading systems. It signed a deal in 2003 with IFX to produce a joint forex trading service.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Chartis RiskTech100® 2024

The latest iteration of the Chartis RiskTech100®, a comprehensive independent study of the world’s major players in risk and compliance technology, is acknowledged as the go-to for clear, accurate analysis of the risk technology marketplace. With its…

T+1: complacency before the storm?

This paper, created by WatersTechnology in association with Gresham Technologies, outlines what the move to T+1 (next-day settlement) of broker/dealer-executed trades in the US and Canadian markets means for buy-side and sell-side firms

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here