On October 27, 2010, NYSE Technologies announced its plan to form an alliance with CSTK InVenture. NYSE Technologies is the world’s largest provider of trading solutions for the electronics industry. It is a part of NYSE Euronext. CSTK InVenture is an advisory firm specializing in technology. The joint venture will create a new powerhouse in the traditional trading market and will combine experts in a variety of fields, including real estate and infrastructure.
The CEO of NYSE Technologies, Stanley Young, said the companies plan to use the agreement to create a business that is the premier provider in its field, which focuses on services technology. This doesn’t come as a surprise to many in the industry who have been watching NYSE Technologies. CSTK InVenture formed in 2008 under the direction of NYSE Euronext, which pulled together experts from two companies for advisory services for financial institutions. CSTK InVenture combined advisors from CS Technology and KLG Advisors.
CSTK InVenture took on the role of advising NYSE Euronext in everything from business support to technology development to real estate transactions. The agreement between NYSE Technologies really just combines two of the companies under NYSE Euronext’s umbrella into one big happy family.
Both companies seem to be happy with the new situation, and leading personnel from each company has taken the time to address press about the news. In these press releases, the companies stress their hopes that the new arrangement will open new doors for both businesses and allow each sector to influence the other in a positive way. Both CSTK InVenture and NYSE Technologies stress their plans to offer improved (and unique) business value for their clients while offering them tools to improve the bottom line.
So far, it seems like the new arrangement will also provide clients to a wider array of services coming from one company, which could help improve business for NYSE Technologies.