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:
“Spain is an overflow of sombreness ... a strong and threatening tide of history meets you at the frontier.”
—Wyndham Lewis (1882–1957)
“It may be well to remember that the highest level of moral aspiration recorded in history was reached by a few ancient Jews—Micah, Isaiah, and the rest—who took no count whatever of what might not happen to them after death. It is not obvious to me why the same point should not by and by be reached by the Gentiles.”
—Thomas Henry Huxley (1825–95)
“Properly speaking, history is nothing but the crimes and misfortunes of the human race.”
—Pierre Bayle (1647–1706)