Citi and HSBC invest in trading tech player Adaptive

Adaptive builds bespoke front-office platforms across asset classes for financial services firms wanting to own their technology to differentiate.

The vendor says that backing from two of the biggest banks in the world will allow it to capitalise on significant technological disruption and meet the growing demand for client owned, differentiated and bespoke trading technology.

The investment comes as liquidity and trading infrastructure increasingly migrate to the cloud, and the adoption of open-source, modular, and platform-based technology accelerates across the industry.

Matt Barrett, CEO, Adaptive, says: “While our expansion has been self-funded until now, the trajectory of capital markets technology is rapidly shifting, fueled by AI and cloud migration. This funding enables us to accelerate our product development and cement our leadership in the next wave of disruptive technology across the financial ecosystem.”

Nikhil Joshi, global head, market technology, Citi, adds: "In the rapidly evolving landscape of capital markets, the shift towards modular and cloud-native architectures demands robust and scalable high-performance trading infrastructure.

“Our investment in Adaptive reflects their strategic direction and the importance of innovative technologies such as Aeron, in fostering a more resilient and efficient financial ecosystem. We look forward to collaborating with the Adaptive team as they continue to drive innovation across the sector.”