First Derivatives completes acquisition of minority shareholdings in Kx Systems

Maria Nikolova

Completion of the transaction takes First Derivatives’s ownership of Kx Systems to 100%.

First Derivatives plc (LON:FDP) has just announced the completion of the acquisition of the minority shareholdings in Kx Systems, in line with the terms announced in July 2018.

Completion of the transaction takes First Derivatives’s ownership of Kx Systems to 100% for consideration of $53.8 million in cash. The sum has been paid from FD’s available facilities.

Brian Conlon, Chief Executive Officer of FD, commented:

“Since we acquired a controlling stake in Kx Systems in October 2014 we have invested heavily to deliver the performance advantages of our combined solutions, branded as Kx technology, to a range of end-markets. We are making exciting progress as we demonstrate our ability to transform our customers’ operational performance by unlocking the value in their data. Full ownership of Kx Systems is an important milestone as we continue to commercialise our technology.”

Back in July 2018, First Derivatives said it had agreed to acquire the remaining 600,022 Kx Systems shares that it did not already own from the minority shareholders, namely Arthur Whitney and Janet Lustgarten, who are co-founders and current directors of Kx Systems, and their associated persons.

FD’s proprietary Kx technology captures and analyses vast quantities of data, both real-time and historic. Kx comprises the kdb+ database and an enterprise layer providing vital functions such as control and visualisation. Together they provide a platform that enables organisations to meet various data challenges they face, with an efficient design. These core capabilities, along with the capacity to operate on the chip, edge or cloud delivers a compelling solution for FD’s clients. The software has been deployed for edge computing to public environments such as AWS, Azure and the Google cloud.

Read this next

Retail FX

US Retail FX brokers suffer steep fall in client deposits, Trading.com racked up $46K

Retail FX deposits at US brokerages, which have been struggling to eke out a profit in a strict regulatory environment, dropped in March 2022 by $35 million, CFTC data showed.

Retail FX

eToro supports Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI)

Israeli social trading network eToro has added support for trading three new tokens. Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI) are the next coins to join eToro’s list of featured digital assets.

Executive Moves

LiquidityBook hires Fintech veteran Jonathan Cross to lead EMEA business

LiquidityBook, a provider of FIX and OMS trading solutions for both the buy and sell-side, has added Jonathan Cross to its business team for the EMEA region.

Retail FX

Interactive Brokers’ traders now have direct access to TradingView

Professional charting and trading platform, TradingView has integrated the US-listed brokerage firm Interactive Brokers as the latest online trading partner.

Digital Assets

This Web3 infrastructure provider is on the verge of a radical upgrade

The crypto industry fueled the anticipation of the arrival of web3 with the introduction of Decentralized Finance, Metaverse, and more. And today, that web3 is finding support from various developers looking to build and develop the space to extract the most benefits out of it.

Digital Assets

Crypto bots: trading assistant 

The cryptocurrency market is a volatile one, with huge gains and dramatic dips. However, the most informed traders can use automated tools to maximize profits while minimizing risks. 

Retail FX

Cryptos Seed Review – What Makes This Broker Stand Out (2022)

Read our Cryptos Seed review today to learn all you need to know about Cryptos Seed before signing up with the broker(cryptos-seed.com) – by Finance Feeds.

Institutional FX

Citadel goes live with FX NDFs trades on LCH ForexClear

“This builds on the strong growth at the service, which has historically been driven by a focus on margin efficiencies that will only increase with Phase 6 of the uncleared margin rules in September 2022.”

Digital Assets

Crypto platform Bitfrost registers as VASP in Gibraltar ahead of DLT License

“We’re now looking at the next steps necessary to obtain authorisation to operate as a fully regulated DLT or Virtual Asset Service Provider.”

<