Itiviti

Itiviti was a prominent financial technology firm specializing in trading and connectivity for the capital markets industry. Headquartered in Sweden, Itiviti provided scalable technology that enabled financial institutions to consolidate their trading infrastructure, resulting in significant cost savings and enhanced operational efficiency.
History and Development
Itiviti was established as a global leader in capital markets technology, serving a diverse clientele that included 24 of the top 25 global investment banks, as well as over 2,000 brokers, trading firms, and asset managers across 50 countries. The firm offered a comprehensive suite of trading and connectivity solutions designed to support various trading styles across multiple asset classes, adapting to changing market dynamics and regulatory demands.
=== Acquisition by Broadridge Financial Solutions ===
In March 2021, Broadridge Financial Solutions, a leading provider of investor communications and technology for the financial services industry, announced its acquisition of Itiviti for approximately €2.143 billion (around $2.5 billion) from Nordic Capital. This acquisition was a strategic move to enhance Broadridge's capabilities in the capital markets sector, particularly by extending its reach into front-office trade order and execution management systems. 
The integration of Itiviti's technology with Broadridge's existing solutions aimed to create a comprehensive front-to-back capital markets technology and operations platform. This merger was expected to streamline technology stacks for clients, increase efficiencies, reduce risk, and optimize balance sheet utilization across various asset classes, including equities, fixed income, and exchange-traded derivatives.
===Previous Ownership===
The merger of Orc Group and CameronTec was announced in October 2015. At the time, the company said the change was called for because "IT budgets continue to be squeezed amid continued introduction of tighter regulatory measures, [and] the resulting heightened pressure is forcing firms to streamline their trading technology." Orc Group acquired Cameron Systems in 2006. 
Orc was a trading technology provider founded in 1987 whose trading platform offered connectivity to over 150 markets. Its customers included investment banks, trading and market-making firms, brokerage houses, institutional investors and hedge funds.
CameronTec, established in 2009, was dedicated to the development, management and distribution of CameronFIX, a Java framework designed for the handling of messages conforming to the Financial Information Exchange protocol, and Catalys, an integrated FIX environment based on CameronFIX.
== Origins ==
Formed in 1987 by Nils Nilsson and Ulrika Hagdahl, Orc Software's main activity was as a market maker on the Swedish derivatives exchange. Since its inception Orc Software also continuously developed and marketed software for pricing, trading and risk management in financial markets.
Through 1995, sales of the Orc Technology were focused on clients in the Nordic region. 1995 saw the first sales to clients in the UK and Switzerland, and in 1996 the first products were sold to clients in Italy, Hong Kong and Germany. In January 1997, Orc first sold its technology to new clients in Australia and Japan. Also that year, OMX acquired just over 50 percent of the shares in Orc Software. Orc continued its worldwide expansion in 1998 and 1999 with sales to clients in the Netherlands and the U.S. 
In 2000, the company formed subsidiaries in Frankfurt, London, Milan, Moscow, New York and Sydney. Orc Software's shares were listed on the Stockholm Stock Exchange on Oct. 19, 2000. Orc Software opened offices in Hong Kong, St. Petersburg and Zurich in 2001, and in 2002, Orc signed a distribution agreement with Reuters and opened offices in Tokyo, Toronto and Vienna.
ICAP began using Orc's CameronFIX and CameronFAST in September 2007 to facilitate its FX trading. Orc and ICAP finalized the deal towards the end of 2006.
Orc Software acquired its rival Neonet in April 2010 for around SKr 1,227 million, but later offloaded it to a team made up of Neonet's management, Hay Tor Capital and Kas Bank. 
Orc separated its three businesses, Orc, Neonet and CameronTec, in March 2012. 
On Nov. 1, 2010, Orc announced access to the Brazilian markets through the broker Alpes Corretora de Cambio (Alpes). 
On April 25, 2012, Orc announced that it had integrated the Orc Trading products with Cscreen, NYSE Liffe’s global pre-trade price discovery platform, providing traders with a more efficient way of interfacing Indications of Interests (IOIs) for equity and index derivatives from inter-dealer brokers. 
On July 23, 2012, Orc announced a partnership with Blue Trading Systems that would integrate BlueTrade’s tablet system with Orc’s electronic options platform. 
In April 2014, BCS Financial Group partnered with Orc to allow Orc’s clients to trade Russian securities and derivatives on the Moscow Exchange and on the London Stock Exchange. 
Orc Group's parent company acquired Tbricks in January 2015, with the intention of transferring ownership of Tbricks into Orc and incorporating it into Orc's trading platform, and on February 19, 2015, Orc launched the new trading platform as Orc Tbricks 
In January 2015 UBS Securities extended its broad usage of Orc’s Electronic Execution solution to facilitate DMA on the Australian Stock Exchange (ASX) and the Chicago Mercantile Exchange (CME). 
In February 2015, Erste Group’s Equity Capital Markets team migrated to Orc’s Electronic Execution platform. 
In March 2015, Orc added connectivity to Nasdaq's new futures exchange, NFX. That same month is also connected to Aequitas NEO Exchange in Canada. 
In May 2015, the new Orc Tbricks trading platform began offering a certified interface to the Chicago Board Options Exchange, including the CBOE Futures Exchange (CFE). 
In June 2015, Shanghai ShenYi Investment Co. (ShenYi) implemented Orc’s Trading Bricks solution to improve trade efficiency for ETF options trading on the Shanghai Stock Exchange (SSE). 
Orc announced connectivity to Borsa İstanbul on August 25, 2015.
On October 31, 2017, Itiviti announced a strategic alliance with IHS Markitto to create an ETF solution integrating the Tbricks trading platform with SOLA, the ETF data service from IHS Markit.
Itiviti merged with ULLINK on March 14, 2018, and its board appointed Torben Munch as chief executive officer of the combined entity.
==References==
Category:Independent Software Vendors
Category:MarketsWiki Sponsors
Category:Orc Group
Category:Acquired Firms
Category:CameronTec