REDI
| Company type | Subsidiary |
|---|---|
| Industry | Financial services, Trading software |
| Predecessor | Spear, Leeds & Kellogg |
| Founded | 1992 |
| Fate | Acquired by Thomson Reuters in 2017 |
| Headquarters | New York , United States |
Area served | Worldwide |
Key people | Michael Chin (Managing Director and Global Head of Trading at Thomson Reuters) |
| Products | Execution management system platform for Equities, Futures, and Options trading |
Number of employees | Over 5,000 active traders (users) |
| Parent | Thomson Reuters |
| Website | www |
REDI represents the execution management system (EMS) platform offered by Thomson Reuters. Acquired in 2017, REDI provides users with connectivity to more than 175 execution brokers for routing orders in Equities, Futures, and Options worldwide, alongside access to over 20 prime and clearing brokers. The platform supports a global user base exceeding 5,000 active traders.
Early history
Introduced in 1992 by market maker and New York Stock Exchange specialist firm Spear, Leeds & Kellogg, REDI was one of the pioneering electronic order entry platforms. Its name is an acronym for “Rapid Execution Dot Interface.”
Goldman Acquisition
Following Goldman Sachs’ $6.5 billion purchase of SLK in 2000, REDI became part of Goldman’s technology suite. During Goldman’s ownership, the platform broadened its functionalities to incorporate options and futures trading (2000), integration with FIX-based OMS (2001), portfolio and spread trading capabilities (2003), as well as expanded global connectivity (2005). By 2013, REDI was recognized as the top EMS among hedge funds and ranked third among asset managers.
Spinoff
Goldman Sachs revealed intentions in 2012 to divest REDI to transform it into a genuinely multi-broker platform. On July 17, 2013, a majority stake in REDI was sold to a group of investors including Bank of America Merrill Lynch, Barclays, BNP Paribas, Citadel, and Lightyear Capital. The next day, Bank of America Merrill Lynch contributed its proprietary EMS, InstaQuote, into REDI as part of the transaction.
Thomson Reuters Acquisition
Thomson Reuters finalized its acquisition of REDI in early 2017 under undisclosed terms. Michael Chin, managing director and global head of trading at Thomson Reuters, indicated plans to incorporate REDI within its pre-trade and post-trade workflow solutions as well as its Eikon financial analytics platform.