"Global markets require FTEN's more sophisticated real-time risk management and compliance solutions, broker-neutral high-frequency trading gateway, and its approach to delivering market data to meet the increase in exchange volumes and evolving regulatory requirements," says Ted Myerson, president and founder of FTEN.
Antonio Reyes Miras, global head of electronic client solutions (ECS) at JPMorgan, says that while his business already uses FTEN's services in the US, the joint investment will help steer the firm and accelerate global expansion.
"Many firms currently claim to be in the high-frequency, low-latency space but what is different about FTEN is that they approach the concept from a risk management point of view," says Reyes Miras. "Banks and exchanges need the ability to risk manage their flow in real time."
Financial terms of the investment were not disclosed, although a spokesperson for Financial Technology Partners, who advised FTEN on the transaction, says it was "a minority interest transaction in order to strengthen FTEN's breadth and strength in the global financial securities marketplace while maintaining its independent governance."
-Joel Clark -->