Dash Merges With LiquidPoint To Provide Trading Technology and Execution Solutions
- The two complementary businesses have merged to create a key player in the US options agency execution space.
Trading technology provider Dash Financial announced today that it has signed an agreement with global brokerage Convergex to merge with LiquidPoint (Convergex's options trading and technology business), in order to create a financial technology company in the options and equities markets.
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Dash Financial is an institutional trading technology, Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term provider bringing transparency and high-level performance to the US options and equities markets. LiquidPoint provides advanced options technology and routing services with deep penetration into the sell-side and exchange communities.
The merger brings together two highly complementary businesses to create a major player in the US options agency execution space. The combined entity will operate as Dash Financial Technologies and be majority owned by private equity firm GTCR, which owns a controlling interest in Convergex. The independent company will be led by Peter Maragos as CEO and Ben Londergan as President.
Maragos commented: "Our core mission is to deliver highly transparent trading technology and pure agency execution solutions to the institutional community. Together we are uniquely positioned to offer the widest range of solutions to help the buy side, sell side and exchanges navigate the ever-evolving market structure and regulatory environment."
Collin Roche, Managing Director at GTCR, added: "This merger creates a well-capitalized, growing financial technology firm that is able to deliver the next generation of trading and transparency solutions to the largest and most sophisticated clients. There are also great synergies between these two firms, and we believe this merger will unlock the full potential of both businesses."
The transaction is expected to close in Q1 2017 subject to customary closing conditions including regulatory approvals.
Trading technology provider Dash Financial announced today that it has signed an agreement with global brokerage Convergex to merge with LiquidPoint (Convergex's options trading and technology business), in order to create a financial technology company in the options and equities markets.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong
Dash Financial is an institutional trading technology, Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term provider bringing transparency and high-level performance to the US options and equities markets. LiquidPoint provides advanced options technology and routing services with deep penetration into the sell-side and exchange communities.
The merger brings together two highly complementary businesses to create a major player in the US options agency execution space. The combined entity will operate as Dash Financial Technologies and be majority owned by private equity firm GTCR, which owns a controlling interest in Convergex. The independent company will be led by Peter Maragos as CEO and Ben Londergan as President.
Maragos commented: "Our core mission is to deliver highly transparent trading technology and pure agency execution solutions to the institutional community. Together we are uniquely positioned to offer the widest range of solutions to help the buy side, sell side and exchanges navigate the ever-evolving market structure and regulatory environment."
Collin Roche, Managing Director at GTCR, added: "This merger creates a well-capitalized, growing financial technology firm that is able to deliver the next generation of trading and transparency solutions to the largest and most sophisticated clients. There are also great synergies between these two firms, and we believe this merger will unlock the full potential of both businesses."
The transaction is expected to close in Q1 2017 subject to customary closing conditions including regulatory approvals.