Interactive Data Corporation announced it has signed an agreement to acquire 7ticks, LLC, a provider of electronic trading networks and managed services. The transaction is expected to be completed in early 2010, contingent upon closing conditions.
The Chicago-based 7ticks provides direct exchange access, proximity hosting, and support services for a variety of companies throughout the North American financial market.
Interactive Data expects to retain all of 7ticks' 42 full-time employees, including its leadership team. The 7ticks business will be operated as part of Interactive Data's newly formed Real-Time Market Data and Trading Solutions Group. Services from 7ticks will be marketed as Interactive Data 7ticks following the deal's completion.