Computershare announced today that it has agreed to acquire the software rights to trading, settlement and clearing systems owned by EFA Software Services. The acquisition ,which is expected to close by the end of January 2003, will cost C$6.25 million in cash.
Computershare says the purchase will give the company access to trading and clearing software that is installed in over 25 stock exchanges. Computershare will not take on existing business of EFA, but the company does expect to inherit live business relationships.
Computershare adds that EFA’s trading systems are particularly suited to the small to mid-sized exchanges, whilst its own trade
matching system – Computershare X-stream – is better suited to the middle to high end of the global market. The company reckons it will be strongly positioned to win business as exchanges come to the market in search of new trading technology.
“This deal puts us in the top three globally amongst providers of exchange technology,” says Iain Saville, European Managing Director of Computershare. “While EFA’s trading systems are well suited to small to mid-sized exchanges, Computershare’s X-stream, is a solution ideally suited to the middle to high end of the global market. Our offering now covers the spectrum of trading, clearing and settlement and surveillance products for exchanges worldwide. It’s a formidable contender in the global market and we are strongly positioned to win business as exchanges and intermediaries upgrade to modern trading technology.”
Computershare clients for trading and surveillance systems already include leading world stock exchanges and government regulators such as Stock Exchange of Hong Kong, Hong Kong Securities and Futures Commission, Singapore Stock Exchange, Monetary Authority of Singapore, Jakarta Stock Exchange, Oslo Stock Exchange, Oslo Bourse, Stockholm Stock Exchange, Copenhagen Stock Exchange and MICEX stock exchange (Russia).