Vela Trading Technologies is on the move. In July, the New York trading and market technology firm, which was formerly known as SR Labs, announced its second acquisition in two months.
On July 13, the company announced that it had concluded an agreement with Object Trading, a trading infrastructure company whose assets include a direct market access platform, pre-trade risk controls, and analytics applications. Object Trading is connected to more than 60 global equity, derivative and FX exchanges for both market data and order routing. Its customers include half the world’s top-tier sell-side firms and a number of buy-side firms ranging from global hedge funds to proprietary trading firms.
Vela executives say the deal complements its June acquisition of OptionsCity Software, a provider of futures and options trading and analytics solutions with offices in Chicago, New York, and London. The company’s cloud-based futures trading platforms include City Execution, which allows users of the Eikon news and analytics platform offered by Thomson Reuters to execute futures and options trades from within Eikon.
In a release, Vela CEO Jennifer Nayar said the acquisition of the two companies will enable Vela to further expand its “products and services suite bringing innovative technologies and cost-effective solutions to our clients around the world.”
Vela was founded in 2007 as SR Labs and acquired Wombat, a leading provider of data feeds, in July 2014. Nayar, an expert in market data who held management positions at the New York Stock Exchange, Redi Technologies and Omgeo, was named CEO of SR Labs in June 2016. The company rebranded as Vela in June 2016.