Vela Boosted Its Fintech Offerings With OptionsCity Acquisition

Vela Trading Technologies LLC, a fintech company specializing in market data technology, recently announced its acquisition of OptionsCity Software, which offers futures and options trading with analytics solutions.

The deal is expected to close at the end of the second quarter.

As it is, Vela supports trading with access gateways and low-latency and consolidated market data-feed management. With the purchase, the firm will expand its services to include risk-management tools, advanced analytics and access to expanded asset classes and trading venues. It will also hasten the firm’s overall growth and data cloud strategy.

“We are delighted to enhance our award-winning managed services, development and support teams with OptionsCity’s technical expertise and market knowledge,” CEO Jennifer Nayar said in a press release. “The combination of Vela and OptionsCity enables us to accelerate both companies’ growth strategies, delivering an enhanced suite of trading and market data technology across multiple asset classes and geographies.”

The New York-based company has offices in Europe and Asia to serve tier-one and investment banks, broker dealers, hedge funds, trading firms and fintech software developers. Meanwhile, the Chicago-based OptionsCity caters to professional futures and options traders, brokers and larger financial institutions.

“Together we will be able to bring innovative technologies to our existing customers, and expand our solutions into new client segments, regions, and asset classes,” OptionsCity CEO Hazem Dawani said in the announcement.

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