Today, CubeLogic announced that it had acquired Berlin-based energy and commodity surveillance provider – FERDEC. I spoke with CubeLogic CEO, Lee Campbell, this evening to get an overview of the acquisition. CubeLogic, a provider of business intelligence (BI) enabled risk management solutions, had been working more informally with FERDEC over the last year or so when proposing to potential customers a broader solution including trade surveillance, he told me. “It seemed to be a good fit for both parties, and we felt it was better to do a full acquisition in going forward with the partnership.” CubeLogic intends to place additional staff in the FERDEC office in the near future to bolster its European presence on the ground. Offering a variety of tools in and around risk and regulatory management via its RiskCubed product suite, adding FERDECs robust matching engine for trade surveillance adds breadth and depth in a sought out area of complementary functionality. As the press announcement stated, “the ferdecTS® engine can detect potential market abuse patterns arising from the manipulation of the physical characteristics of transactions, as well as purely financial aspects which other surveillance tools are typically limited to. The reason for moving from partnership to… continue reading
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