Exactpro Systems has been bought out of the London Stock Exchange Group (LSEG) by a company incorporated by the former’s founders. Deals of the acquisition were not disclosed and the LSEG is expected to remain a customer of Exactpro, which will provide an independent software quality assessment of LSEG’s core platforms based on a multi-year services agreement between the companies.
Exactpro employs over 560 staff focused on functional and non-functional testing and software development of systems that process wholesale financial products across many asset classes, such as trading and clearing systems, risk management, market surveillance, securities data distribution and post trade infrastructure. These services are offered to exchanges, investment banks, brokers, technology firms and other financial sector organisations worldwide.
Iosif Itkin, co-CEO and co-founder of Exactpro, says: “Exactpro was launched on September 9, 2009, known as software testers’ day due to a moth found trapped in hardware and ‘debugged’ seven decades ago. Since that time, advances in data analysis and artificial intelligence have rapidly changed the world. The presence of thinking machines will soon affect all industries, processes and occupations. Machine learning is one of the main directions of research at Exactpro to enhance our testing capabilities for market infrastructure.”