Pico Acquires Redline Trading Solutions
January 10, 2022
Share this

Pico acquired Redline Trading Solutions.

The addition of Redline’s high performance, multi-asset software solutions will provide access to a common API for global markets, both real-time and historical, delivered via Pico’s global network. The combined offering reduces complexity by allowing trading firms to optimize market access and coverage and trading stack performance in a seamless manner.

“As the trading environment becomes more globalized and continues to produce increasing amounts of data, clients are seeking greater efficiency in market infrastructure services and data consumption. Financial institutions want a trusted and globally comprehensive technology partner who understands their business, the market landscape and how to apply technology solutions. Combining Redline’s premier ultra-low latency trading and software solutions with Pico’s broad infrastructure, cloud and data offering, and industry leading Corvil Analytics, positions Pico uniquely to address these client needs and market challenges," said Jarrod Yuster, Chairman, Founder and Co- CEO of Pico.

Redline provides ultra-low latency software solutions and common APIs to over 180 global venues serving a marquee client roster that includes global banks, quantitative hedge funds, electronic trading firms, ETF market- makers and exchanges. Meeting the requirements of these clients and seamlessly adapting to their evolving needs in the future drive the mission and goals of both organizations.

Continued investments will extend the Redline service offering to become fully and globally comprehensive in delivering real-time and historical normalized financial market data including consolidated, delayed or end-of- day formats via wire protocol or API. Delivery will be available in Pico’s financial cloud, any remote location or into the public cloud. This will enable Pico’s clients to adopt a broad suite of common solutions in all regions delivered and supported by Pico’s global 24x7 operations and service model.

“I have admired Redline and what they have accomplished over the years,” continued Yuster. “Pico and Redline are aligned in our values, culture and expertise, and share a deep passion for meeting the needs of clients...There is a significant addressable market for global data consumption via software and a common API, and we will continue to invest in Redline further leveraging Pico’s global network and infrastructure coverage.”

“We have partnered on past initiatives, and we will now be able to access Pico’s globally deployed service organization, leading analytics and infrastructure footprint to scale our offerings to more geographies. We foresee great collaboration between our teams in the coming years in order to continue to meet clients’ evolving needs.” said Mark Skalabrin, Founder and CEO of Redline.

The acquisition will contribute to Pico’s growth strategy by adding Redline’s fully recurring revenue stream and high-margin business through increased client opportunity and a further expansion of in-house expertise. It follows the successful integration of Corvil Analytics, the best-in-class financial markets trade monitoring and performance platform1, which extended Pico’s expertise into analytics and data science.

Financial terms of the transaction were not disclosed. Redline had previously been backed by GS Growth, the growth investing arm of Goldman Sachs.

Jefferies LLC acted as exclusive financial advisor and DLA Piper served as legal advisor to Pico in connection with the transaction. Broadhaven acted as exclusive financial advisor and Davis Malm served as legal advisor to Redline in connection with this transaction.

Share this

The Latest

June 29, 2022

When it comes to AIOps predictions, there's no question of AI's value in predictive intelligence and faster problem resolution for IT teams. In fact, Gartner has reported that there is no future for IT Operations without AIOps. So, where is AIOps headed in five years? Here's what the vendors and thought leaders in the AIOps space had to share ...

June 27, 2022

A new study by OpsRamp on the state of the Managed Service Providers (MSP) market concludes that MSPs face a market of bountiful opportunities but must prepare for this growth by embracing complex technologies like hybrid cloud management, root cause analysis and automation ...

June 27, 2022

Hybrid work adoption and the accelerated pace of digital transformation are driving an increasing need for automation and site reliability engineering (SRE) practices, according to new research. In a new survey almost half of respondents (48.2%) said automation is a way to decrease Mean Time to Resolution/Repair (MTTR) and improve service management ...

June 23, 2022

Digital businesses don't invest in monitoring for monitoring's sake. They do it to make the business run better. Every dollar spent on observability — every hour your team spends using monitoring tools or responding to what they reveal — should tie back directly to business outcomes: conversions, revenues, brand equity. If they don't? You might be missing the forest for the trees ...

June 22, 2022

Every day, companies are missing customer experience (CX) "red flags" because they don't have the tools to observe CX processes or metrics. Even basic errors or defects in automated customer interactions are left undetected for days, weeks or months, leading to widespread customer dissatisfaction. In fact, poor CX and digital technology investments are costing enterprises billions of dollars in lost potential revenue ...

June 21, 2022

Organizations are moving to microservices and cloud native architectures at an increasing pace. The primary incentive for these transformation projects is typically to increase the agility and velocity of software release and product innovation. These dynamic systems, however, are far more complex to manage and monitor, and they generate far higher data volumes ...

June 16, 2022

Global IT teams adapted to remote work in 2021, resolving employee tickets 23% faster than the year before as overall resolution time for IT tickets went down by 7 hours, according to the Freshservice Service Management Benchmark Report from Freshworks ...

June 15, 2022

Once upon a time data lived in the data center. Now data lives everywhere. All this signals the need for a new approach to data management, a next-gen solution ...

June 14, 2022

Findings from the 2022 State of Edge Messaging Report from Ably and Coleman Parkes Research show that most organizations (65%) that have built edge messaging capabilities in house have experienced an outage or significant downtime in the last 12-18 months. Most of the current in-house real-time messaging services aren't cutting it ...

June 13, 2022
Today's users want a complete digital experience when dealing with a software product or system. They are not content with the page load speeds or features alone but want the software to perform optimally in an omnichannel environment comprising multiple platforms, browsers, devices, and networks. This calls into question the role of load testing services to check whether the given software under testing can perform optimally when subjected to peak load ...