Atos Euronext Market Solutions (AEMS),the 50:50 joint venture between Euronext and Atos Origin that provides technology to exchanges, clearing houses, banks and trading firms, has made a “strategic” investment in Coexis Limited.
Coexis is a London-based software firm led by Terry Williams, the founder of the Wilco securities processing technology business now owned by ADP. Coexis claims to control “next generation” software and applications for the international capital markets.
“This investment will allow AEMS to continue to exceed the demands of its global customers for cost-effective, flexible and scalable leading-edge trading, clearing and trade processing solutions,” says Jean-Marc Bouhelier, CEO of AEMS.
AEMS is investing in Coexis primarily to gain access to Syn~, the core technology created by Coexis, which includes an application suite developed specifically for modelling financial market applications. AEMS will use Syn~ to adapt its existing products and to develop new offering for its customers, especially to help them cope with MiFID and the European single settlement platform being developed by Euronext ally Euroclear.
AEMS says it will work closely with Terry Williams, Chairman of Coexis, and Sunil Shah, CEO of the company, to increase sales to its existing collection of banking and brokerage clients in continental Europe, and among Coexis’s clients in the UK and US. Further sales in Asia are anticipated.
“The senior management teams of AEMS and Coexis, who have jointly over 20 years’ experience providing mission critical applications in the regulated investment banking arena, have enjoyed a very positive long-term relationship with a history of successful global projects,” says Jean-Marc Bouhelier. “We are excited about the opportunities that this deal represents for the future of both firms as well as our customers.”
“Syn~ technology complements AEMS’ business knowledge and market reputation,” adds Terry Williams. “Having the public backing of a technology player like AEMS with worldwide expertise in consulting, product and system integration, hosting and facilities management, as well as an ASP model gives Coexis the right opportunities for growth. The investment provides Coexis with the upside benefits of a large scale organisation, without losing the agility of a closely knit management team.”