Pico, a provider of mission critical technology, data and analytic services, announced it’s acquired Redline Trading Solutions, a provider of high performance trading and market data software solutions. Financial details are not disclosed.
The addition of Redline’s high performance, multi-asset software solutions will provide access to a common API for global markets, both real-time and historical, delivered via Pico’s global network. The combined offering reduces complexity by allowing trading firms to optimize market access and coverage and trading stack performance.
“As the trading environment becomes more globalized and continues to produce increasing amounts of data, clients are seeking greater efficiency in market infrastructure services and data consumption…Combining Redline’s premier ultra-low latency trading and software solutions with Pico’s broad infrastructure, cloud and data offering, and industry leading Corvil Analytics, positions Pico uniquely to address these client needs and market challenges,” said Jarrod Yuster, chair, founder and co-CEO of Pico, in a statement.
Redline provides ultra-low latency software solutions and common APIs to over 180 global venues, including global banks, quantitative hedge funds, electronic trading firms, ETF market-makers and exchanges.
Mark Skalabrin, Redline’s founder and CEO, said in a statement: “We have partnered on past initiatives, and we will now be able to access Pico’s globally deployed service organization, leading analytics and infrastructure footprint to scale our offerings to more geographies.”
Continued investments will extend the Redline service offering to become fully and globally comprehensive in delivering real-time and historical normalized financial market data including consolidated, delayed or end-of-day formats via wire protocol or API. Delivery will be available in Pico’s financial cloud, any remote location or into the public cloud. This will enable Pico’s clients to adopt a broad suite of common solutions in all regions delivered and supported by Pico’s global 24×7 operations and service model.
Yuster said in a statement: “There is a significant addressable market for global data consumption via software and a common API.”