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:
“For a transitory enchanted moment man must have held his breath in the presence of this continent, compelled into an aesthetic contemplation he neither understood nor desired, face to face for the last time in history with something commensurate to his capacity for wonder.”
—F. Scott Fitzgerald (1896–1940)
“The whole history of civilisation is strewn with creeds and institutions which were invaluable at first, and deadly afterwards.”
—Walter Bagehot (1826–1877)
“Social history might be defined negatively as the history of a people with the politics left out.”
—G.M. (George Macaulay)