Adroit Trading Technologies has announced a Series A growth round of $15 million led by Centana Growth Partners (a specialized growth equity firm that invests in fintech and related enterprise software). This funding will be used for accelerating growth by expanding client distribution and investing further in research and development.
Adroit is considered the most comprehensive execution management system (EMS) for OTC-heavy buy-side desks. And the company offers a cross-asset, all-in-one tool for traders and portfolio managers who are active in cash and derivatives markets, often across tangled global account structures. This system integrates with dozens of trading venues, order management systems (OMSs), broker-dealers and data sources, to offer buy-side traders a single access point for execution, data and analytics.
The industry is projecting a 60-70% growth in electronic fixed-income trading over the next decade, driven by regulatory changes, proliferation of available data, and technological advances. And while automation and electronification are key drivers of volume and industry focus, a substantial share of OTC trading remains on voice and chat. Adroit’s success to date across diverse, nuanced OTC markets has been driven in part by solving for both high-touch voice-trading and automated, low-touch workflows.
Launched in 2014 as an all-encompassing OTC solution provider, Adroit has evolved into a dynamic force in EMS. And the company achieved profitability in 2016, and by 2021, it strategically focused on EMS capabilities in fixed-income cash and derivatives, where the buy side’s need was most acute.
Adroit serves large global clients across both hedge funds and long-only asset managers who, in aggregate, manage over $10 trillion in assets.
KEY QUOTES:
“Adroit is not just in the fixed-income EMS business – we have defined it. In addition to giving traders the ability to execute trades, we enable traders to add operational alpha throughout the investment process. Traders need to move fast and process massive amounts of information, and over the last 10 years, we have shown how the right technology can be transformative. We pride ourselves on solving the broad needs of fixed-income traders, servicing clients from investment managers to hedge funds and everything in between.”
– Anil Jaglan, Founder of Adroit
“Adroit is a trailblazing EMS in fixed-income cash and OTC derivatives, addressing a void within a historically opaque industry. Adroit’s approach gives traders a uniquely powerful tool that removes complexities and enhances the execution process. Adroit has built a world-class EMS and has a roster of some of the most prominent buy-side clients, all built without outside funding. We’re proud to support the next phase of their business as they continue to scale and grow.”
– Ben Cukier, Co-Founder and Partner of Centana Growth Partners
