Nordic Capital Said to Explore Sale of Itiviti Trading Platform

(Bloomberg) -- Nordic Capital is exploring a potential sale of electronic trading platform Itiviti Group AB, which could fetch about $1 billion, people with knowledge of the matter said.

The private equity firm is in the early stages of considering strategic options for Itiviti, according to the people, who asked not to be identified because the information is private.

Itiviti’s technology is used by investment banks that are benefiting from a surge in equity volatility amid the coronavirus pandemic. Its products include the NYFIX order routing network, which connects more than 1,600 brokerages and fund managers, according to its website.

The company also makes software for market making, connecting to stock exchanges, order execution and managing trading flows. Itiviti generates more than 200 million euros ($235 million) of annual sales and employs about 1,000 people, its website shows.

Nordic Capital first invested in the company in 2012. Deliberations are at an early stage, and it could decide to keep Itiviti for longer, the people said. A representative for the private equity firm declined to comment.

Deal activity has been heating up in the market structure world as bourse owners seek to move into new business areas. London Stock Exchange Group Plc is working to complete its acquisition of data provider Refinitiv, while interdealer broker TP ICAP Plc agreed this month to purchase dark pool operator Liquidnet Holdings Inc.

Deutsche Boerse AG, owner of the Frankfurt exchange, said in September it bought analytics company Quantitative Brokers. Market technology firm ION has also been acquisitive, building up a portfolio of products used for trading, foreign exchange and market analytics.

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