Financial services-focused investment major Lovell Minnick has picked up a minority stake in foreign exchange trading software and tech supplier oneZero.
The 10-year-old business aims to provide mission-critical FX and multi-asset class liquidity, distribution, business intelligence and risk management solutions to the retail brokerage and institutional marketplace, including hedge funds, prime brokers and global banks.
Its platform simplifies the risk management and compliance processes for brokers, giving them a single solution to manage their client risk and regulatory processing procedures.
Lovell Minnick managing partner Steve Pierson said, “The convergence of the retail and institutional FX markets is rapidly increasing as global market participants seek sophisticated, highly-scalable trading solutions and reliable IT infrastructure with ultra-low latency, unparalleled pricing data and high transactional capacity.
“oneZero continues to develop next-generation wholesale technology and business intelligence solutions for market participants with unmatched speed, efficiency and risk management support.”
Lovell Minnick said it had been joined in this investment by Phil Weisberg, institutional foreign exchange executive veteran and founder of Matzliach Capital, who has served as senior advisor to oneZero since June last year.
Weisberg previously founded and served as CEO of FXall, a business-to-business foreign exchange platform that traded on the New York Stock Exchange before being acquired by Thomson Reuters.
OneZero currently serves a network of more than 200 global retail and institutional broker-dealers, which it says conduct over $100bn in average daily trading volume on more than six million executed transactions each day.
Broadhaven Capital Partners served as exclusive financial advisor to oneZero, while Gunderson Dettmer served as legal advisor to the Company. Morgan Lewis served as counsel to Lovell Minnick.
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