Fintech PR
Trading Technologies expands into clearing technologies, services with acquisition of ATEO
CHICAGO and PARIS, Feb. 12, 2024 /PRNewswire/ — Trading Technologies International, Inc. (TT), a global capital markets technology platform provider, today announced a definitive agreement for TT to acquire ATEO SAS, a leading provider of post-trade solutions for listed derivatives, expanding TT’s reach into clearing and other middle-office technologies and services. Terms of the transaction, expected to close on Feb. 29, were not disclosed.
The two firms entered into a strategic partnership in late 2022 to deliver a fully integrated, comprehensive post-trade allocation service for sell-side banks, brokers and futures commission merchants (FCMs). The acquisition brings ATEO’s full line of middle-office solutions into the TT infrastructure.
TT CEO Keith Todd said: “We’ve enjoyed an outstanding working relationship with the ATEO team since we embarked on our partnership in 2022, and we came to the conclusion that we can create an even stronger value proposition and end-to-end offering by bringing the entire firm and all software modules into the TT family of offerings. ATEO has both highly respected technology and established trusted relationships with a wide range of leading banks, brokerage firms, trading houses and professional traders. The total addressable market for middle-office clearing solutions is at least $100 million, with plenty of room for growth in market share.”
Laurent Courbin, Founder & Chief Executive Officer of ATEO, said: “Since 2000, ATEO has provided premier middle-office solutions to our clients, with functionally rich and reliable software. While we have already attracted some of the leading firms in the industry, we now have the ability to scale significantly as part of the TT team and infrastructure, supporting more clients of every size, regardless of the scope of their needs.”
David Romeo, Managing Director of ATEO, said: “This will also bring our existing clients and those in our pipeline easy access to the TT platform and the full range of services the firm provides. Giving our clients the ability to manage their trading activities from pre-trade risk to post-trade allocation and clearing through TT’s multi-asset platform will provide a meaningful competitive advantage.”
ATEO will operate as a global managed service hosted in TT’s data centers. ATEO’s post-trade allocation engine is already fully integrated into the TT order management system (OMS), providing TT OMS clients with seamless access to the functionality.
Among ATEO’s products are: TEO Derivatives, a global order management system dedicated to pure brokerage environments and used by many of the world’s leading inter-dealer and executing brokers, including the vast majority of brokers in London; the LISA Clearing Engine, a widely adopted trade matching and clearing solution enabling firms to process business across all clearing houses globally and offer tailored services to their customers; and UGO, a set of gateways and standardized clearing application programming interfaces (APIs) providing firms with the ability to develop or feed in-house solutions through scalable trade feed standardization and high throughput for all clearing activities.
About Trading Technologies
Trading Technologies (www.tradingtechnologies.com) is a Software-as-a-Service (SaaS) technology platform provider to the global capital markets industry. The company’s award-winning TT® platform connects to the world’s major international exchanges and liquidity venues in listed derivatives alongside a growing number of asset classes, including fixed income and cryptocurrencies. The TT platform delivers advanced tools for trade execution and order management, market data solutions, analytics, trade surveillance, risk management and infrastructure services to the world’s leading sell-side institutions, buy-side firms and exchanges. The company’s blue-chip client base includes the Tier 1 banks as well as brokers, money managers, hedge funds, proprietary traders, Commodity Trading Advisors (CTAs), commercial hedgers and risk managers. These firms rely on the TT ecosystem to manage their end-to-end trading operations. In addition, exchanges utilize TT’s technology to deliver innovative solutions to their market participants. TT also strategically partners with technology companies to make their complementary offerings available to Trading Technologies’ global client base through the TT ecosystem.
About ATEO
ATEO delivers post-trade solutions for the financial industry, including a global blotter, clearing and matching system, and extensive market connectivity. The world’s leading banks, trading houses and professional traders have been relying on ATEO technology since its creation in 2000. Through years of experience, advanced technology solutions and an unparalleled sense of service, ATEO helps customers achieve efficiencies and grow their business. For more information, please visit www.ateofinance.com.
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AALBORG, Denmark, Feb. 10, 2025 /PRNewswire/ — Trackunit, a global leader in software and contech solutions for the construction industry, has today announced it has attracted investment from Goldman Sachs Alternatives.
The investment will mark the next chapter in Trackunit’s ambitious growth journey and will see current majority stakeholder Hg, a leading investor in European and transatlantic software and service businesses, continue to reinvest in the construction technology company’s future.
Goldman Sachs Alternatives previously owned Trackunit from 2015 until 2021 when Hg acquired the business.
“We are thrilled to partner once again with Trackunit’s leadership team, along with Hg, to build on their success and drive even greater impact for customers globally,” said Michael Bruun, Partner and Global Co-Head of Private Equity at Goldman Sachs Alternatives. “We see significant potential in continuing to scale the business and further embedding digital solutions across the construction ecosystem.”
Trackunit is at the forefront of the digital transformation of the construction sector, offering a verticalized operating data platform, which generates valuable data-driven insights via an industry leading data lake.
“We have built a strong foundation together with Hg, advancing our offerings and working together with customers to eliminate downtime in construction,” said Soeren Brogaard, CEO of Trackunit. “The reinvestment from Hg, alongside the new and proven partnership with Goldman Sachs Alternatives, positions us to scale even faster.
“We remain fully committed to our purpose, and with Goldman Sachs Alternatives’ expertise and global reach, we are excited to accelerate innovation and growth for our customers and partners worldwide.”
Trackunit’s software and IoT connectivity solutions uniquely support the entire construction ecosystem, serving equipment manufacturers, rental companies, contractors and ecosystem tech partners, integrating the off-highway vehicle, connected site, and mobile workforce. Trackunit serves a global diversified customer base spanning the full construction value chain and has approximately 400 employees.
“Trackunit is a prime example of how data-rich software businesses can capitalize on their structural data advantage through AI and continue to expand their customer proposition,” Nick Jordan, Partner and Soren Holt, Director at Hg, said. “Our investment in this business has been about fostering this innovation and scaling a category-leading SaaS business.
“We are pleased to continue supporting Trackunit alongside Goldman Sachs Alternatives, ensuring the company has the resources and expertise to realize its long-term purpose and industry-changing ambitions.”
During Goldman Sachs Alternatives previous ownership period, it leveraged its global network and differentiated value creation capabilities to support meaningful expansion of the company’s product capabilities and operations.
With Goldman Sachs Alternatives and Hg, Trackunit has an ideal shareholder base to continue investing in cutting-edge product development, technology, people and further expansion as part of its mission to eliminate downtime in the construction industry.
The transaction is expected to close in early Summer.
About Trackunit
Trackunit is a global technology company that connects construction through one platform to create a living, evolving ecosystem that delivers data and insights to the off-highway sector. With circa 3.5 million visible assets connected, it uses technology to eliminate downtime, improve safety, and help customers improve the bottom line in a sustainable, cost-effective way.
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For further information, please visit: https://trackunit.com/
About Private Equity at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds, and sustainability. Goldman Sachs has over $3 trillion in assets under supervision globally as of December 31, 2024. Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over $75 billion since inception. The business combines a global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.
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LONDON, Feb. 10, 2025 /PRNewswire/ — MidEuropa, a leading private equity investor with deep roots in Central Europe, announces that its portfolio company, Diagnostyka, a leading provider of medical diagnostic services in Poland, has debuted on the Warsaw Stock Exchange on Friday, February 7, 2025.
The market closing price on the first day of trading puts Diagnostyka’s market capitalisation at over €1 billion. Diagnostyka thus ranks as the second-largest publicly listed healthcare services provider in Central Europe and among the top seven largest listed sector players in Europe.
At the IPO share price of PLN 105, which was at the top of the price range, the share offering raised gross proceeds of just over €400 million for MidEuropa fund investors. The offering attracted significant interest from international and domestic investors. The retail tranche, which represented 5% of the total offering, was also met with strong demand, resulting in an order reduction rate of 94%.
Diagnostyka, founded by its CEO together with two co-founders 27 years ago, has enjoyed impressive and sustained growth throughout its history. Thanks to a well-executed buy-and-build consolidation strategy, coupled with investments in large-scale and technologically advanced laboratory infrastructure and digitalisation, Diagnostyka has gradually transformed from a regional, founder-led business into a national champion. Its scale and comprehensive scope of service ensure the Company plays a critical role in offering good and expanding access to diagnostic services to the over 20 million patients it serves annually.
Matthew Strassberg, MidEuropa Partner and Head of Healthcare, said: “The significant interest from international and domestic investors in Diagnostyka’s share offering validates the Company’s focused strategy and long-standing track record of consistently strong execution. We feel privileged to have had an opportunity to contribute to the Company’s journey, serving early on as a catalyst for the acceleration of Diagnostyka’s transformation into the clear market leader in the Polish diagnostic healthcare services. During our investment, the Company expanded through over 120 acquisitions, driving consistent revenue growth of 24 per cent per annum, and increasing the number of laboratory tests by a factor of eight. We are confident that Diagnostyka has a great future, and we wish the Company, its founders and the entire management team continued success.”
Dr Jakub Swadzba, CEO and co-Founder of Diagnostyka, commented: “We want to thank MidEuropa for their constructive, value-add support during our 13-year partnership. MidEuropa’s investment, which has lasted nearly half of our Company’s history, has been transformational. As a management team we have grown and evolved with our business and now feel energised and look forward to the new chapter of working with the public market investors.”
The listing of Diagnostyka represents one of the largest IPOs on the Warsaw Stock Exchange in the last five years and among the largest private equity investor exits on the public market. It follows MidEuropa’s successful IPO of e-commerce platform Allegro in 2020, one of the largest IPOs on the Warsaw Stock Exchange to date, as well as the landmark sale of Profi, a leading grocery retailer in Romania to Ahold Delhaize, completed in early 2025. These successful exits evidence MidEuropa’s consistent ability to transform its fast-growing portfolio companies into attractive assets for strategic buyers and public market investors alike.
Rothschild & Co. acted as Independent Financial Advisor; Citigroup Global Markets Limited together with Bank Handlowy w Warszawie S.A., Jefferies GmbH, and Santander Bank Polska S.A. together with Banco Santander, S.A. acted as joint global coordinators; Bank Polska Kasa Opieki S.A. together with Pekao Investment Banking S.A., Trigon Dom Maklerski S.A., and WOOD & Company Financial Services a.s. S.A., Oddział w Polsce acted as joint bookrunners; Santander Bank Polska S.A. acted as co-offering agent in Poland in connection with its offer to retail investors.
Greenberg Traurig Nowakowska-Zimoch Wysokiński sp.k. acted as legal counsel to the Issuer; Baker McKenzie Krzyżowski i Wspólnicy sp.k. acted as legal counsel to the Selling Shareholder; White & Case M. Studniarek i Wspólnicy – Kancelaria Prawna sp.k. acted as legal counsel to the underwriters.
About MidEuropa
MidEuropa is a leading European private equity investor with deep roots in Central Europe and a long-term track record in the region spanning approximately 25 years. Headquartered in London, with offices in Warsaw and Bucharest, MidEuropa adopts a flexible pan-European and global approach to identify winning investments across the healthcare, technology, services and consumer sectors. MidEuropa works collaboratively with talented founders and management teams to support and facilitate sustainable growth through buy & build, organic growth acceleration, digital transformation, sustainability leadership and international expansion, to drive transformative growth and build industry champions. To date, MidEuropa has raised and managed funds of over €6.5 billion, and completed 46 investments and over 270 add-on acquisitions across 20 countries.
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SINGAPORE, Feb. 10, 2025 /PRNewswire/ — On February 5, Justin Sun, Global Advisor of HTX and founder of TRON, joined the leading crypto exchange HTX for an X Spaces session titled “Explore USDD with Justin Sun“. During the session, Sun provided an in-depth explanation of USDD (Decentralized USD) 2.0, the latest version of the USDD stablecoin, and answered audience questions. The session garnered significant interest from the crypto community, with over 12,000 concurrent listeners at its peak.
USDD 2.0: Pegged 1:1 with USD, Backed by Multiple Stability Mechanisms
Launched on January 25, USDD 2.0 is an upgraded decentralized stablecoin on the TRON network.
Sun emphasized that despite the dominance of USDT and USDC, the market still lacks a truly trustless and fully decentralized stablecoin with no censorship and freezing of assets, which is why he championed USDD.
To maintain its 1:1 peg to USD, USDD 2.0 utilizes stability mechanisms, including overcollateralization, a liquidation and auction model, risk management and real-time monitoring, a Peg Stability Module (PSM), and decentralized governance.
The PSM is a critical component. It allows users to quickly swap USDD for other stablecoins at a 1:1 ratio with nearly zero gas fees. This significantly reduces arbitrage risks and promotes price stability, even during market fluctuations.
USDD’s overcollateralization model further enhances its stability and minimizes risks. To mint USDD, users must provide collateral assets like TRX or USDT. Due to TRX’s strong market liquidity and ecosystem support, and USDT’s established stability, the value of the collateral consistently exceeds that of the minted USDD.
As of 8:30 AM UTC on February 6, the total collateral backing USDD was nearly $130 million, representing an overcollateralization ratio of 1.23x.
Sun summarized, “If you are unsure about USDD, just think of it as a mirrored proxy of USDT.”
20% APY on USDD Staking—Backed by Decentralization
Sun emphasized that USDD can be swapped 1:1 for USDT at any time, with no limit, making it as easy to use as USDT on TRON—but with the potential for higher returns.
Currently, Tier T1 of USDD staking offers a 20% APY, fully subsidized by TRON DAO. HTX Earn also offers a limited-time 20% APY bonus for its USDD Flexible product. Since the bonus was introduced, subscribed assets for the product increased nearly tenfold. Users can stake USDD on HTX or JustLend DAO and enjoy a guaranteed 20% yield. Users can also borrow USDD using their USDT holdings and then stake the borrowed USDD for additional potential returns. (Disclaimer: This is not an investment advice.)
According to official data, $1,380,822 USDD tokens have been deposited to the LendSave Vault contract (TDrc3zH9wWufmQJyS7QLxBYH8GS27drW5N).
Addressing community concerns about the security and sustainability of the 20% yield, Sun stated, “Consider the value proposition of a decentralized stablecoin on TRON. There’s $60 billion worth of USDT on TRON. If you believe in a truly decentralized alternative, you understand USDD’s potential value.”
Regarding use cases, Sun explained that USDD is designed to support the functionalities that USDT cannot fully provide on the TRON network. He also announced upcoming partnerships with centralized exchanges. HTX and Poloniex may soon support USDD used as margin in futures trading, and integrates USDD into one-click USDD swaps, and USDD-powered SmartEarn. Discussions are also underway with other crypto institutions regarding further USDD integration.
HTX’s Growth: $HTX Set to Be Listed on Major Regulated Exchange
Sun also announced that $HTX will soon be listed on a major regulated exchange. Efforts are underway to further enhance its utility, giving it a competitive advantage over other centralized exchanges.
He reaffirmed that HTX’s listing strategy focuses on identifying promising projects, with all new token listings based on independent research, and also speed. HTX’s agility has allowed it to stay ahead of the curve in the crypto market over the past two years. Looking ahead, HTX will focus on the AI sector, with potential AI-driven projects in development.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
Contact Details
Ruder Finn Asia
[email protected]
Company Website
https://www.htx.com
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