Intercontinental Exchange (ICE) has sold Wombat Financial Software to New York market data platform vendor Street Response Laboratories (SR Labs).
Acquired by NYSE in 2008 for US$200 million, Wombat's sale to SR Labs is a consequence of NYSE Euronext’s acquisition by ICE last year, when the exchange announced that it would seek to divest all of the firm's technology assets that were not part of its core operations. As Ben Jackson, president and chief operating officer, ICE Futures U.S. and president, NYSE Technologies, explained, "This is a significant step in the previously announced divestiture of the non-exchange related assets of NYSE Technologies."
Wombat offers high performance financial market data management solutions for electronic trading and connectivity management. The Wombat platform includes Wombat direct market data feed handlers for over 200 direct exchange and aggregated vendor feeds; the DART Entitlements tool for data usage and compliance reporting and analysis; Superfeed, which offers a consolidated data feed from exchanges worldwide; and MAMA (Middleware-Agnostic Messaging API), a high speed, multi-protocol messaging layer.
Its new owner, SR Labs provides low-latency market data and exchange connectivity solutions for the financial sector. With clients including Bank of America Merrill Lynch, JP Morgan and Morgan Stanley, SR Labs provides feed coverage for North American, European and Asian Exchanges. Its flagship products are SMDS and SREX and its feed handler provides direct access to the London Stock Exchange. The company's COO, Dipanjan Chatterjee commented, "The SR Labs team looks forward to working with Wombat's development team and leveraging our joint domain knowledge and infrastructure to deliver optimal market data and exchange connectivity solutions."