Swedish transaction technology vendor OM has acquired a controlling interest in JHC Securities, a UK-based provider of outsourced back office and clearing services to stockbrokers and asset managers.
JHC Securities delivers complete back office for hire (BOFH) and clearing services that are based on the Figaro automated back office system, which is supplied by JHC plc.
OM will integrate JHC Securities' services with its existing securities processing units in the UK in a bid to increase transaction-based revenue. The vendor says the acquisition will extend its BOFH capabilities in the UK market and enable it to offer further back office services in both the local and overseas markets.
Curt Brill, global head of markets, banks and brokers, OM, says: "JHC Securities has the technical, functional and operational capabilities in its UK-based data centres to meet our stringent requirements in a business partner."
Financial terms of the deal were not disclosed.