Wit Capital, developer of an online investment bank, acquired electronic trading software from New York-based company Global Trade, as well as the services of Global's development team through a stock transaction. The software took three years to develop and cost in excess of several million dollars, according to Wit. The company will launch a broker-dealer trading system before the end of the year.
Short: Wit acquired software and services
Wit Capital, developer of an online investment bank, acquired electronic trading software from New York-based company Global Trade, as well as the services of Global's development team through a stock transaction. The software took three years to develop and cost in excess of several million dollars, according to Wit. The company will launch a broker-dealer trading system before the end of the year.