Intengo Market (“Intengo”) is proud to announce the successful acquisition of Addendum Marketplace, a secondary market fixed income trading platform developed by Addendum Financial Technologies. This marks a significant milestone in the digitisation of the South African debt market.
The Addendum Marketplace platform will now be integrated into Intengo, creating a comprehensive, centralised ecosystem that spans both primary issuance and secondary market trading.
The integration of Addendum Marketplace complements Intengo’s existing platform, providing a full suite of debt market functionality encompassing debt issuance, trading, settlement and analytics. This consolidation is set to revolutionise the South African fixed income market with seamless, digitised operational workflow now available to both primary and secondary market participants.
Willem le Roux, CEO of Addendum, added: “Addendum’s mission is to open financial markets to greater liquidity and fairness through technology. Intengo Market shares our vision. Users of our fixed income marketplace platform can carry on as normal, confident that the platform will continue to evolve and grow under Intengo’s stewardship.”
Ian Norden, CEO of Intengo, commented: “This integration also allows for a more cohesive and efficient market integration, benefiting investors, intermediaries and corporates alike. By combining the activity from both platforms, Intengo is now also better positioned to deliver enhanced market insights and analytics to improve market transparency, price discovery and understanding for all market participants.”
Fixed income markets have, generally, lagged equity markets in terms of the digitisation of processes. Globally, there has been a recent shift towards using financial technology to reduce costs and drive efficiency in both public and private credit markets, but with more developed market economies as the initial focus. Intengo’s purpose is to bring these same benefits to the local economy. This has led to innovation and growth in the space with a proudly South African, purpose-built solution to address the nuances of our local market.
Norden concludes: “With this acquisition, Intengo reinforces its commitment to bringing the debt market together into one centralised ecosystem, ensuring that the South African fixed income community will now have seamless, insightful, and efficient market operations all under one roof.”
Ends.
