Quantum X announces binding letter to acquire 80% of TraderMade

Quantum X announced a binding letter of intent on October 6 to acquire an 80% stake in institutional market data provider TraderMade Systems, The Tech Edvocate reported. The proposed acquisition would give Quantum X a majority stake in a business supplying real-time and historical financial information. TraderMade has three decades of financial data. Quantum X intends to integrate those datasets with its artificial intelligence and quantitative technologies. The announcement concerns a binding letter of intent rather than a completed acquisition.