Trading Technologies Acquires ATEO SAS to Expand Clearing Technology Services

February 12, 2024 - Trading Technologies (TT) has announced that it has reached a definitive agreement to acquire ATEO SAS, a post-trade solutions provider for listed derivatives. This acquisition, slated to be finalised on February 29, will extend TT's services into clearing and middle-office technologies. While the financial terms remain undisclosed, the deal is set to expand TT's technology suite with ATEO's comprehensive middle-office solutions.

TT CEO Keith Todd remarked on the acquisition, "We've enjoyed an outstanding working relationship with the ATEO team since we embarked on our partnership in 2022, and we came to the conclusion that we can create an even stronger value proposition and end-to-end offering by bringing the entire firm and all software modules into the TT family of offerings. ATEO has both highly respected technology and established trusted relationships with a wide range of leading banks, brokerage firms, trading houses and professional traders. The total addressable market for middle-office clearing solutions is at least $100 million, with plenty of room for growth in market share."

Laurent Courbin, Founder & Chief Executive Officer of ATEO, commented on joining TT, "Since 2000, ATEO has provided premier middle-office solutions to our clients, with functionally rich and reliable software. While we have already attracted some of the leading firms in the industry, we now have the ability to scale significantly as part of the TT team and infrastructure, supporting more clients of every size, regardless of the scope of their needs."

David Romeo, Managing Director of ATEO, also expressed enthusiasm about the benefits for existing clients, "This will also bring our existing clients and those in our pipeline easy access to the TT platform and the full range of services the firm provides. Giving our clients the ability to manage their trading activities from pre-trade risk to post-trade allocation and clearing through TT's multi-asset platform will provide a meaningful competitive advantage."

ATEO will continue as a global managed service within TT's data centers, with its post-trade allocation engine already integrated into the TT order management system for seamless client functionality.

ATEO's offerings include TEO Derivatives, a leading global order management system, the LISA Clearing Engine for trade matching and clearing across global clearing houses, and UGO, a gateway and API suite for trade feed standardization and clearing activities.