Electronic trading and automation solutions provider valantic FSA, has completed a strategic investment in low-code development fintech Velox Financial Technology, to complement and bring further flexibility to its electronic trading business. The terms of the investment have not been disclosed, although valantic says it is “significant” and that it will allow the company to bring new products to market faster and drive further development in its new client solutions business.
“By leveraging Velox’s low code development framework and making this strategic investment, we will be able to do a lot more both for our existing customers and also for new potential customers,” says Andy Browning, Head of Electronic Trading at valantic FSA. “valantic already has a wide range of highly scalable and robust components, including bond pricing, quoting, trading, aggregation, RFQ management, and ecommerce distribution. The Velox investment will not only enable us to further augment & improve those building blocks, but it will also give us more strategic agility to build products quickly and to centralise multiple systems’ data in our new HTML5 user interface creating a unique platform of capabilities.”
The partnership, which began in mid-2021, recently culminated in the successful launch of the first phase of valantic’s new repo trading platform, based on HTML5 technology and open integration for data visualization within the application.
“Ultimately, it’s about smart workflow automation in capital markets, not just for the banks, but also asset managers, and potentially some of the venues and trading platforms too,” says Browning. “And although valantic FSA has a background in fixed income, equities and FX, we’re asset-class agnostic, so we’re looking at anywhere where a client has a problem, where we can leverage our low-code development framework to build on top of what they already have and address that problem in short order.”
“The reality is that capital markets are still operating in the same way they have done for the last 20 years or so,” says Jon Butler, Velox’s CEO. “Historically a one-size-fits-all trading system was enough for firms to capture first-mover advantage, but there’s a transition been slowly happening in the market. Today banks and brokers need to differentiate with data driven products and efficient automated workflows. To meet these new challenges, they need vendor solutions that do more than provide trading tools, that can be continuously customized to integrate with internal workflows, data sources and IP. It needs new technology, new thinking, and a new approach, which is what we offer.”
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