IDC Picks Up 7ticks
Wade Roush12/14/09
Interactive Data Corporation (NYSE: IDC), the Bedford, MA-based market data provider, announced today that it will acquire 7ticks, a 42-employee firm in Chicago that provides customers with high-speed access to derivatives, options, and commodities exchanges such as the Chicago Mercantile Exchange and EuroNext. Interactive Data said in a statement that the acquisition “represents an important element in Interactive Data’s strategy to address the latency sensitive trading needs of its institutional customers.” Financial details of the transaction, which is expected to close in 2010, were not revealed.
Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.
