Gresham to acquire Electra to double customers for post-trade automation

Rick Steves

Electra is specialized in improving efficiency and mitigating risk in post-trade processing, including reconciliation, data aggregation and transformation, trade settlement, and client fee billing.

Gresham Technologies has agreed to acquire post-trade automation specialists, Electra Information Systems as part of its growth strategy which has seen the firm’s Clareti platform success in the data integrity, reconciliations and control space over the last eight years.

The firm has onboarded more than 120 customers across banking, investment management, and financial services including many of the world’s largest financial institutions.

Gresham had acquired Inforalgo Information Technology in July 2020, which enhanced the firm’s regulatory reporting and connectivity capabilities.

Ian Manocha, CEO at Gresham, said: “Our shared vision, and the combination of the two firm’s people, technology and international network will accelerate our long-term growth and the achievement of our value creation strategy. Aligned with our mission to create a global financial technology business delivering digital integrity, agility, and confidence to financial markets, we want our customers to have access to innovative and domain rich, cloud-based automation solutions.

“We will be taking Electra’s highly respected propositions to investment managers, family offices, hedge funds and other buy-side participants around the world, strengthening our global footprint and presenting exciting opportunities for Gresham and the market – underpinned by the power of the Clareti platform”, Manocha said.

John Landry, CEO at Electra, commented: “Electra sits at the heart of the US buy-side community and is known for its specialist expertise in smart reconciliations. We’re proud to have built a leading buy-side proposition over the last 20 years, adding value to the entire post-trade process for our 150 customers.

“Joining Gresham creates significant opportunities to take our technology to international markets and for our customers to access the full scale, reach, and capabilities of the Clareti platform. Combined with Gresham’s deep expertise in providing software solutions for banking and investment management firms and solid reputation for reliable, mission-critical solutions and customer service, we are well-matched to operate globally as one company. We look forward to becoming a part of the Gresham team and delivering our combined offering to global markets.”

Electra is specialized in improving efficiency and mitigating risk in post-trade processing, including reconciliation, data aggregation and transformation, trade settlement, and client fee billing.

Its strong reputation among the buy-side market has garnered 150 direct customers. The acquisition of Electra will double Gresham’s customer numbers to over 270, increase its physical presence in the United States and strengthen its cloud and delivery capabilities in the global market.

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