Adenza Group, Inc. is a

software application Application software is any computer program that is intended for end-user use not computer operator, operating, system administration, administering or computer programming, programming the computer. An application (app, application program, sof ...

provider specializing in

capital market A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers ...

investment management Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various Security (finance), securities, including shareholdings, Bond (finance), bonds, and other assets, such as r ...

, central banking,

risk management Risk management is the identification, evaluation, and prioritization of risks, followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. Risks can come from various sources (i.e, Threat (sec ...

, clearing, collateral and treasury & liquidity. Their integrated suite of trading and risk applications is used by banks and other financial companies. Previously known as AxiomSL and Calypso Technology, the company had its acquisition by

Nasdaq, Inc. Nasdaq, Inc. is an American multinational financial services corporation that owns and operates three stock exchanges in the United States: the namesake Nasdaq stock exchange (on which it is also listed), the Philadelphia Stock Exchange, and ...

completed in November 2023.

History

Dual-headquartered in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

and

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

, Calypso Technology was founded in 1997 by Charles Marston and Kishore Bopardikar. It was acquired by

private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

firms Bridgepoint and

Summit Partners Summit Partners is an American investment firm based in Boston, Massachusetts. The firm focuses on investing in technology, healthcare, life sciences and other growth industries. Background Summit Partners was founded in 1984 by E. Roe Stamps ...

in June 2016. The company has over 20 offices in 18 countries. The company changed its name to Adenza in 2023. Calypso's software is written entirely in

Java Java is one of the Greater Sunda Islands in Indonesia. It is bordered by the Indian Ocean to the south and the Java Sea (a part of Pacific Ocean) to the north. With a population of 156.9 million people (including Madura) in mid 2024, proje ...

and serves

front office The front office is the part of a company that comes in contact with clients, such as the marketing, sales, and service departments. The term has more specific meaning in different industries. Types General offices The function of front offic ...

, middle office, and

back office A back office in most corporations is where work that supports '' front office'' work is done. The front office is the "face" of the company and is all the resources of the company that are used to make sales and interact with customers and clien ...

functions, allowing financial institutions to consolidate their infrastructure on a single platform. Their flagship product, Bank-in-a-Box, bundles the software with a Target Operating Model for the processing of all asset classes, as well as pre-configured business workflows and market best practices. In July 2017, Calypso completed the acquisition of a minority stake in Sernova Financial. In March 2021,

Thoma Bravo Thoma Bravo, LP is an American private equity and growth capital firm based in Chicago, Illinois. It is known for being particularly active in acquiring enterprise software companies and has over $130billion in assets under management . It ...

bought Calypso from its then owners for $3.7bn. In June 2023, Nasdaq, Inc. announced that it had agreed to acquire Adenza in a $10.5 billion cash-and-stock deal, the biggest for the US exchange operator to date. The acquisition was completed in November.

References

Financial services companies established in 1997 Software companies established in 1997 Financial software companies Financial services companies based in London Financial services companies based in New York City 2016 mergers and acquisitions 2021 mergers and acquisitions 2023 mergers and acquisitions Private equity portfolio companies {{US-software-company-stub