CHICAGO--(BUSINESS WIRE)--Trading Technologies International, Inc. (TT), a leading provider of order-entry software and solutions for professional derivatives traders, announced today that it has acquired TickIt Trading Systems, LLC (TickIt). Terms of the deal are undisclosed.
TickIt’s software provides traders of every level of expertise a comprehensive and unique combination of capabilities needed to move into advanced low-latency algorithmic and blackbox trading. The award-winning platform allows traders to create high-frequency strategies quickly and safely without having to write source code.
In a joint statement, Mike Unetich and Rick Lane, Co-Founders of TickIt Trading Systems, said, “We’re excited about this transaction. The combined forces of the two companies will allow us to showcase our technology to the greatest number of traders and help usher in the next phase of algorithmic trading.”
Harris Brumfield, TT CEO, added, “We think TickIt’s software is innovative and complementary to TT’s software and solutions. Our end users should benefit greatly.”
The purchase of TickIt was completed on June 8, 2010.
About Trading Technologies
Trading Technologies (www.tradingtechnologies.com) develops high-performance trading software for derivatives professionals, including the world’s premier investment banks, proprietary traders, brokers, Futures Commission Merchants (FCMs), hedge funds and other trading institutions. The company’s X_TRADER® software and related services provide direct access to dozens of the major international derivatives exchanges. TTNET™, TT's fully managed hosting solution, delivers maximum system stability and fast trade execution via hubs located close to the major exchanges in Chicago, New Jersey, London, Frankfurt, Singapore and Tokyo.
Headquartered in Chicago with 11 offices globally, TT has received "best in class" awards from numerous independent third parties including FOW, Buy-Side Technology, The Technical Analyst and Chicago magazines as well as the Illinois Information Technology Association (ITA).
About TickIt Trading Systems
Chicago-based TickIt Trading Systems (www.tickit.com) is a company co-founded in 2009 by Michael Unetich, a futures trader with more than 15 years of experience, and Rick Lane, a computer programmer who began his professional career designing computer-based war games and tools for modeling terrorist networks for the Department of Defense. TickIt has created a disruptive technological platform which will empower any trader to design, create and deploy their own automated blackbox high frequency trading strategies without having to write a single line of source code.