Davidge Data Systems
| Type | Private |
|---|---|
| Industry | Financial software / Middleware |
| Founded | 1982 |
| Fate | Acquired |
| Successor | GL-trade (2003) |
| Headquarters | United States |
Area served | United States, Canada, United Kingdom |
| Products | Middleware for trade ordering, execution, and back-office connectivity; Smart order routing |
| Owner | Formerly private, then acquired by S1 Corporation (2000), later GL-trade (2003) |
Davidge Data Systems Corporation was "a privately held software company that specializes in middleware for trade ordering, execution and back-office connectivity for Wall Street firms,"[1] including Smart order routing.[2]
The company's DavNet includes the ability to efficiently handle large volumes of small orders.[3]
History
Davidge, founded 1982, was acquired by S1 Corporation, a holding company, in April, 2000, for about $20 million,[4] at a time when it seemed that "banks in the U.S. were going to control much of the retail brokerage" industry, especially as related to online trading.[1] S1 sold Davidge to Paris-based GL-trade in October, 2003.[5]
At that time, Davidge software was used for "40% of US listed options volume and served "40 New York Stock Exchange members ... and several of the 10 largest brokerage firms."[6]
Their international order routing includes Canada[7] and Britain.[8]
See also
References
- 1 2 "A Conversation with Nick Davidge". Wall Street & Technology. September 8, 2000.
- ↑ "semi annual report: FEAS" (PDF). Federation of Euro-Asian Stock Exchanges. October 3, 2005. Archived from the original (PDF) on April 6, 2013. Retrieved March 25, 2020.
- ↑ "Brown Brothers Tackles STP For Overseas Nasdaq Orders". Wall Street & Technology. August 14, 2000.
- ↑ "S1 Corp. to buy Davidge Data for $20 million". MarketWatch. March 16, 2000.
- ↑ "GL Trade Buys Ubitrade Group". Wall Street & Technology. February 12, 2004.
- ↑ "GL Trade to acquire US order routing firm Davidge Data Systems". October 21, 2004.
- ↑ "Davidge Wires Brokerages with Securities Exchanges". November 27, 1995.
- ↑ "Davidge Data Systems Corp Overview". 2000-01-01.