FT Partners Advises on Series B Investment For FTEN
Overview of Transaction
- On October 30, 2008 FTEN, Inc. ("FTEN") announced it had secured a Series B strategic investment from Merrill Lynch, Goldman Sachs, JP Morgan and Credit Suisse
- FTEN will remain independent; the investors will not receive board membership
- Investment by top tier financial institutions is a testament to FTEN's strength in the financial securities marketplace, and will allow for increased collaboration to further develop cutting edge solutions
- The investment will also allow FTEN to accelerate growth on a global scale, and increase their presence in Europe and Asia
- FTEN provides a suite of innovative speed black box trading solutions that enable prime brokers, clearing firms, broker-dealers, hedge funds and proprietary trading groups to achieve greater access, speed and control through scalable, low-latency routing, real-time intra-day risk management, compliance surveillance and market data signal services
- FTEN's technology processes approximately 20% of the entire US Equities daily volume
- FT Partners served as exclusive strategic and financial advisor to FTEN and its Board of Directors
- In 2002, FT Partners advised FTEN on its Series A financing