Tradingscreen
Completes a Significant Minority Recapitalization Lead
by Technology Crossover Ventures
TradingScreen Positions
Itself Firmly as the Leader of
Independent Execution Management Systems
NEW YORK (September 13, 2007)
– TradingScreen, the premier execution
management system (EMS) provider of multi-broker, multi-asset
trading systems to the buy side, announced today that
Technology Crossover Ventures (TCV), a leading provider
of growth capital to technology companies, has led a
significant, strategic new minority investment in the
firm. Joining TCV in the investment are Continental
Investors. The capital will be used to fund the next
phase of TradingScreen’s growth, expand its leadership
in delivering global trading solutions for institutional
investors everywhere in the world, and develop new services
to allow the buy side to face the new challenges presented
by the evolution of the markets. It will also simplify
its capital structure by retiring all existing non-employee
shareholders and will continue to insure, as in the
past, a complete level of independence for the company.
"Central to our development has been an unwavering
commitment to providing customers around the world with
a best-in-class, independent, electronic trading solution
tailored to their needs and answering the new market
complexities," said Philippe Buhannic, president
and CEO of TradingScreen. "TCV's involvement represents
a very important step for our future as it gives us
the necessary backing and resources to reach the next
key strategic goals that we have set for the company.
Through this highly strategic investment in our company,
TCV brings extensive financial technology market knowledge
and relationships within the financial sector that will
be pivotal in accelerating our growth worldwide. The
entire TradingScreen team is fully committed to leveraging
this transaction and continuing to build the reference
company in our field."
TradingScreen is the leading provider of multi-asset
class, multi-broker, multi-service EMS, providing unique
solutions to the issues faced by buy-side firms with
the rapid transformation of the global capital markets.
The company’s reputation has been built on constant
innovation, customer service, and easy and rapid deployment,
significantly reducing the cost of ownership of the
buy-side through a software-as-a-service (SaaS) model.
In effectively addressing the issues created by the
shift from the manual handling of securities transactions
to electronic, the growing importance of algorithmic
trading, the greater need for pre- and post-trade analytics,
and the need for straight-through-processing, TradingScreen
has come to occupy a very key function in the buy-side
trading workflow. This has placed TradingScreen at the
heart of the new capital markets structure.
TradingScreen has been at the forefront in developing
one of the leading trading platforms for both the buy-side
and sell-side," said Robert Trudeau, general partner
of TCV. "Our investment in TradingScreen is the
culmination of a long-standing relationship with the
management team. We believe the company will continue
to be a leading player in the execution management systems
sector as they further expand their global footprint
and develop new products."
"TradingScreen brings the vision, the technology,
and the proven performance to the global institutional
trading market to position the firm for long-term leadership,"
said Philip Purcell, president of Continental Investors.
"The addition of TradingScreen to our portfolio
builds on our strategy of financing the growth of companies
in the financial services market, and we look forward
to working with Philippe and his team to help TradingScreen
achieve market leadership."
Robert Trudeau will join the TradingScreen board of
directors. The company’s executive team, strategy
and operations will remain the same.
Financial Technology Partners LP and FTP Securities
LLC (together "FT Partners") acted as the
exclusive strategic and financial advisors to TradingScreen
and its board of directors in this transaction.
ABOUT TRADINGSCREEN
TradingScreen Inc. is accelerating the technical evolution
of the financial markets by providing a fully integrated,
customer-oriented trading service platform to institutional
investors on a software-as-a-service (SaaS) model. The
proprietary TradingScreen platform links institutional
investors and sell-side firms together to facilitate
order routing, algorithmic trading, execution management,
clearing, and additional value-added services, such
as pre-trade analysis, real straight-through-processing,
post-trade analysis, and prime brokerage enabling across
all asset classes. TradingScreen provides global coverage
from offices in New York, Chicago, London, Paris, Madrid,
Sao Paulo, Hong Kong and Tokyo.
ABOUT TCV
Technology Crossover Ventures (TCV), founded in 1995,
is a leading provider of growth capital to technology
companies, providing funds to later-stage private and
public companies. With $4.7 billion in capital under
management, TCV has made growth equity and recapitalization
investments in over 150 companies leading to 42 initial
public offerings and more than 30 strategic sales or
mergers. TCV employs a crossover investment model, which
combines venture capital with public market investing
and enables TCV to continue to invest in its portfolio
companies at the IPO and beyond. Representative financial
technology investments include Automated Trading Desk,
FXAll, Liquidnet, Penson Worldwide, R.J. O’Brien,
RiskMetrics and ThinkorSwim. TCV has ten partners and
is headquartered in Palo Alto, California. For more
information about TCV, visit www.tcv.com.
ABOUT CONTINENTAL INVESTORS
Continental Investors was founded by Phil Purcell and
Eric Carlborg in 2006. Continental is investing in private
companies primarily in the financial services industry
and in consumer companies where the Internet is important.
Continental is a strategic source of capital and looks
for opportunities where its industry expertise and relationships
can benefit management and other private equity investors.
TradingScreen is Continental’s sixth private equity
investment.
ABOUT FT PARTNERS
FT Partners is the only investment banking firm focused
exclusively on the financial technology sector. FT Partners
was awarded the honor of Investment Bank of the Year
in 2006. The firm was founded by a former senior investment
banker in Goldman Sachs & Co.'s Financial Technology
Group and Financial Institutions Group.
MEDIA CONTACTS:
Technology
Crossover Ventures
Shifali Erasmus-Bhagat
Kinetic.PR, LLC for TCV
shifali@kineticprllc.com
510-565-5655 |
TradingScreen,
Inc.
Miranda Tan
TradingScreen Public Relations mtan@excitepr.com
212-941-8499 ext. 118 |
|