History
A previous instance of Fusion was owned by Michael Alfant and many of the partners of the current firm. Fusion Systems was founded in 1992 in Tokyo as a subsidiary of Fusion Systems Group of New York. A MBO in 1995 took the company independent. The company's key product was a stock trading system named FOX (Fusion Order eXecution) that was sold to many Tokyo Stock Exchange member firms. Fusion estimates, based on the reported market share of TSE members that used FOX, that it processed between 30-50% of the TSE's total volume at the end of the 90s.
The previous Fusion was subsequently acquired by IMRGlobal for $65M in a mixed stock/cash deal in 1999 .
IMRGlobal itself was subsequently acquired by CGI Group in 2001. The old Fusion unit of CGI was then sold to the French trading systems provider GL Trade in April 2002, who continued to sell and support FOX.
Read more about this topic: Fusion Systems
Famous quotes containing the word history:
“What would we not give for some great poem to read now, which would be in harmony with the scenery,—for if men read aright, methinks they would never read anything but poems. No history nor philosophy can supply their place.”
—Henry David Thoreau (1817–1862)
“What is most interesting and valuable in it, however, is not the materials for the history of Pontiac, or Braddock, or the Northwest, which it furnishes; not the annals of the country, but the natural facts, or perennials, which are ever without date. When out of history the truth shall be extracted, it will have shed its dates like withered leaves.”
—Henry David Thoreau (1817–1862)
“A people without history
Is not redeemed from time, for history is a pattern
Of timeless moments.”
—T.S. (Thomas Stearns)