Mon, 11 Jul 2011 | BUSINESS SALE
Trading technology firm Fixnetix has drafted in advisers to explore sale or financing options as it looks to expand on its rapid growth experienced in recent years.
Fixnetix creates services for investors who use high-speed computers for trading. In June it launched a new microchip that reduces the time taken for execution of trades down to nanoseconds, making it (according to the company) the fastest trading application of its kind. The microchip, which Fixnetix spent £1.1 million developing in the space of one year, is capable of executing trades at 740 nanoseconds.
Options to be looked over by advisers Numis Securities and Appleby Capital include a full or partial trade sale, selling a stake to a bank consortium or to carry on growing the business without outside funding.
Potential purchasers are thought to include IBM, the London Stock Exchange and Spanish telecommunications company Telefonica.
The firm’s recent success can be attributed to investors, who use automated technology such as high-frequency traders and algorithmic traders, seeking technology that can make their systems as fast as possible where soft market volumes limit trading opportunities.
Fixnetix had orders that are expected to bring in £200,000 per month at the start of this financial year. It now aims to expand, selling its trading equipment across Asia and the USA.
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