The Clearing Corporation (TCC) announced last Wednesday it has acquired clearing software vendor OnExchange.
The purchase will provide TCC "diversification of our offerings," according to TCC ceo Dennis Dutterer.
"It gives us the ability to meet the needs of a wide variety of people in the financial services industry - exchanges and marketplaces, wherever they might be located," Dutterer said. Rich Jaycobs, OnExchange ceo will join TCC's senior executive team. He said in recent years his firm has focused extensively on clearing technology, which complements TCC's clearing technology and services. OnExchange's main product, called...