Integral announced the acquisition of International Financial Systems (IFS), provider of collateralized trading solutions for international financial institutions. IFS brings to Integral considerable domain expertise and a proven, established family of products for financial services. The company’s flagship product, MarginMan, is currently in use by more than 20 of the world’s top financial institutions, including ABN Amro, Citigroup Private Bank, Deutsche Bank and UBS for collateralized FX trading.
Founded in 1992, International Financial Systems is a privately held company headquartered in Dublin, Ireland. IFS’s products will complement the existing products in the Integral platform: Integral Direct, Integral Connect, Integral AutoDealer and Integral Financial Server, which is the foundation for the platform. The Integral platform is the industry’s most complete, open platform for the rapid development and deployment of capital markets applications.
“Integral’s acquisition of International Financial Systems is a natural outgrowth of executing on our ongoing strategy to provide financial institutions with the most comprehensive platform for capital markets applications,” said Harpal Sandhu, CEO, Integral. “The addition of the IFS products and high caliber client list will help Integral maintain its industry leadership.”
“Today’s news represents a great opportunity for our customers, partners and employees,” said Jim Duffy, Chairman, IFS. “Integral is a world-class software company, and the synergies between our two organizations, products and staff are considerable.”
New Platform Applications MarginMan is an award-wining risk management and collateralized foreign exchange trading application. MarginMan determines and values collateral, monitors the risk inherent in the client’s open positions, relates the value of collateral to the size of the perceived risk and automatically issues alerts if the collateral/risk ratio drops below pre-defined limits.
MarginMan will be migrated to the Integral platform, running on the Integral Financial Server. This will deliver dramatic increases in scalability for MarginMan, as well as increased financial product coverage. Integral Financial Server supports thousands of simultaneous users and is capable of managing millions of transactions covering foreign exchange, money markets, derivatives, fixed income, and equity related financial products.