One of the leading brokerage companies in the U.S., BGC Partners has announced the acquisition of Canadian electronic trading platforms operator Perimeter Markets. The target company which is one of the leading Canadian firms to provide electronic and voice broking solutions in fixed income was founded in 1999 in the financial center of Canada, Toronto.
Perimeter markets will enable BGC Partners to expand its access to the Canadian market as well as attract more clients from the country. The company is fully regulated in Canada by the Ontario Securities Commission (OSC) and the Investment Industry Regulatory Organization of Canada (IIROC).
Aside from its expertise in the fixed income markets, Perimeter Markets also provides futures trading in Canada, via its CBID™ platforms.
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Commenting on the announcement, the president of BGC Partners, Shaun Lynn, said: ”This transaction will enhance BGC’s electronic offering and increase its footprint in the Canadian marketplace.”
The company has not disclosed the financial terms of the transaction with the regulatory approval for the deal still pending.
BGC Partners Continues Acquisition Spree
Last year BGC Partners made a major acquisition in the U.S. after winning a bidding war against none other than the CME Group for intermediary and trading technology provider GFI Group.
The US inter-dealer broker has also made a bold post-Brexit acquisition in the UK last month, after purchasing London based Sunrise Brokers for an undisclosed sum. The company has taken advantage of the weak British pound and expanded its business in the UK.