Aquis Exchange has acquired a minority stake in OptimX Markets, US-based financial services start-up focused on the block trading market.
Created by a team of experienced equity capital markets professionals led by David Barnett, OptimX’s advanced technology suite will offer investment banks, brokers and institutions the opportunity to find additional matches for order flow.
OptimX Markets aims to forge a new dynamic in institutional trading by restoring transparency and simplicity to sourcing block trades. The company says it is committed to preserving what it calls “the fragile ecosystem between brokers and institutional investors in financial transactions.”
OptimX is wedded to the belief that great technology should enhance relationships rather than replace them, ensuring a seamless experience for both consumers and providers of liquidity. It offers comprehensive trading solutions in both US and EMEA capital markets.
Technology partnership
Aquis will be working closely with OptimX in the UK and EU combining its market-leading technology platform with the OptimX technology suite. This initiative will further expand the product suite available to Aquis members reinforcing the innovative approach Aquis brings to capital markets.
Aquis said the investment was made as part of a consortium which includes DB1 Ventures, the venture capital arm of Deutsche Boerse Group. It is split into two tranches: Aquis will subscribe US$0.75m out of a total first tranche of US$3.0m payable in cash, followed by a second tranche in 12 months of a further US$0.75m out of a total $3.0m payable in cash.
Aquis’ Jonathan Clelland to join OptimX board
The pre-money valuation of the first tranche was US$10m and the valuation for the second tranche will be finalised at the date of investment. It is expected that Jonathan Clelland, COO of Aquis, will join the board of OptimX as a Non-Executive Director in due course. OptimX is a new venture and so has not yet generated any profits or losses.
“The investment in OptimX is a significant opportunity for Aquis, adding additional connectivity to our successful dark pool and providing clients with the ability to cross large blocks,” explained Aquis CEO Alasdair Haynes. “This alongside Aquis’s growing functionality will further enhance the range of execution options available to our members.”
OptimX Markets Inc. forges a new dynamic in institutional trading by restoring transparency and simplicity to sourcing block trades. Committed to preserving the fragile ecosystem between brokers and institutional investors in financial transactions, OptimX believes that great technology should enhance relationships rather than replace them, ensuring a seamless experience for both consumers and providers of liquidity. OptimX offers unique and comprehensive trading solutions in both US and EMEA capital markets.
