Vela

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Vela
Vela logo.png
Founded 1997 (as Wombat Financial Software)
Headquarters New York, NY
Key People Jennifer Nayar, CEO
Products Trading and market access technology provider
Twitter @tradevela
LinkedIn Profile
Website Vela Homepage
Releases Company News
Blog Vela Resources

Vela is an independent provider of trading and market access technology for global multi-asset electronic trading. It provides software that enables clients to execute on their trading strategies and manage risk across multiple fragmented markets, liquidity pools, and data sources.

Vela’s modular stack is accessed through a single set of trading, data and risk APIs and can be delivered as-a-Service from multiple co-location data centers globally.[1]

With access to more than 200 venues, Vela provides global coverage across all major asset classes. Vela’s clients include traders, market makers, brokers, banks, investment firms, exchanges, and other market participants.[2]

History

Vela started out as Wombat Financial Software in 1997. It acquired Harco Technology 10 years later, in January of 2007.[3]

In 2008, Wombat was acquired by NYSE in 2008 for $200 million. Six years later, Intercontinental Exchange (by then the parent company of NYSE after acquiring the exchange group in late 2012) would sell Wombat to Street Response Laboratories, more commonly known as SR Labs.[4]

As a means of unifying these brands under one roof, SR Labs announced in June 2016 that it would be known as Vela.[5]

Continuing with its history of expansion, Vela acquired Chicago-based OptionsCity Software in June of 2017. OptionsCity now falls under the Vela banner.[6]

Right on the heels of the OptionsCity deal, Vela announced in July 2017 that it would acquire Object Trading, another provider of direct market access, risk controls and analytics.[7]

On July 31 2017, Trading Technologies filed a complaint against Vela for trademark infringement,[8] but TT withdrew its lawsuit that November without citing a reason for doing so.[9]

Products and Services

Vela’s ticker plant, execution gateways, trading platform, and risk and analytics software provide ultra-low latency technology for electronic low-touch and Direct Market Access (DMA) execution and pricing.

Key People

References

  1. About Us. Vela.
  2. Products and Services. Vela.
  3. Wombat Acquires Harco Technology. BusinessWire.
  4. SR Labs acquires Wombat from Intercontinental Exchange. The Trade.
  5. SR Labs rebrands as Vela Trading Technologies. Vela.
  6. Vela to Expand Trading Technology Capabilities with OptionsCity Acquisition. Vela.
  7. Vela to acquire Object Trading complementing its recent acquisition of OptionsCity. Vela.
  8. Trading Technologies International sues Vela Trading Technologies over trademark infringement. FinanceFeeds.
  9. Trading Technologies drops lawsuit against Vela Trading Technologies. Finance Feeds.