The Nasdaq OMX Group has agreed to acquire FTEN, a provider of real-time risk management (RTRM) solutions for the financial securities market. Financial terms of the deal were not disclosed.
FTEN's technology provides broker-dealers and their clients the ability to manage risk effectively in real-time.
This acquisition is expected to add a significant product resource to Nasdaq OMX, thus allowing exchange company to offer FTEN solutions to its global base of broker-dealers and the international exchange community.
Nasdaq OMX executive vice president of transaction services Eric Noll said that the FTEN's customer base is comprised of some of the leading broker dealers in the global market and its offerings are the most comprehensive in terms of functionality, asset class and market spread.
"As part of Nasdaq OMX, FTEN will be able to increase its penetration globally, greatly broadening its distribution network beyond the US to a worldwide solution, while expanding its US customer base," Noll said.