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NICE Acquires Redkite, Innovative Cloud-based Trade Surveillance Provider, To Enhance Its NICE Actimize Trading Compliance Solutions

Stocks in this article: NICE

RA'ANANA, Israel, October 22, 2012 /PRNewswire/ --

  • Redkite's expertise in front office trading practices and technology enables rapid deployment with minimal IT investment while providing real-time, intraday surveillance analytics.
  • This move supports customers' initiatives for lowering total cost of ownership and deployment timeframes via direct integration with front-office systems with choice of cloud, on-premise or hybrid deployment.
  • The combined solution will leverage unparalleled market expertise in both trading operations and compliance practices to deliver a best-of-breed analytical superset covering equities, fixed income and futures compliance.
  • This combination merges NICE Actimize's tier one on-premise expertise with Redkite's innovative cloud approach to produce the trade compliance industry's broadest trade compliance offering that serves financial institutions of all sizes.

NICE Systems (NASDAQ: NICE) today announced that it has entered into an agreement to acquire Redkite Financial Markets, an emerging provider of real-time, cloud-based institutional trade surveillance solutions. NICE Actimize's enterprise trading compliance platform, broad library of regulatory coverage modules, market leadership and global tier-one client presence are expected to benefit from the Redkite acquisition, with the addition of Redkite's innovative, front-office based approach to real-time trade surveillance to the Actimize trading compliance solutions suite.

Leveraging front office trading practices, along with system insight and know-how, allowed Redkite to develop a compliance product that can be rapidly deployed with minimal client IT investment and lowered total cost of ownership, while providing intraday, real-time surveillance analytics. Redkite's coverage library includes various analytical models including the demands of the European Securities and Markets Authority (ESMA) Directive. It supports different asset classes such as equities, fixed income or futures, among others.

Redkite, with origins in investment banking, has a customer base comprised of global investment banks, broker dealers and futures clearing merchants in a range of tier one and tier two market segments.

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