25 Oct 2006

ICON advises software company Anvil on its sale to ION Trading. Dublin-based Ion Trading, a provider of dealing systems for electronic fixed income markets, is acquiring Anvil Software, a UK-based supplier of software for repo trading and securities lending. Financial terms of the deal were not disclosed. Founded in 1988, Anvil provides front- and middle- office systems and consultancy services to financial services firms including ABN Amro, Barclays Capital, Fortis, ING Financial Markets, Rabobank, Royal Bank of Canada and Wachovia Securities.

The vendor's systems and span trading and risk management for bonds, repo, F/X, money markets, options, futures, swaps, equities, securities lending, cash management, order management, electronic exchanges and more.

The firm has offices in London, New York, Toronto, Sydney and Malta.

Joe Nicholson, MD of Anvil Software, says the acquisition is good news for clients: "ION will bring its significant market presence and strategic direction to our business, and the market can expect more innovative technology solutions from the combined group."

Nicholson will remain as MD of the acquired business and join the Ion management team.

Andrea Pignataro, CEO and founder of ION, says: "Working with Anvil we will be able to extend our product coverage to repo and securities lending and further enhances our global client support capability."