NYSE listed execution and research broker, ITG, announced that it has acquired RFQ-hub, a multi-asset platform for global listed and Over-the-Counter (OTC) assets.
Privately held RFQ-hub was founded in France in 2008. The firm has 25 employees, with headquarters in Paris and representatives in London and Hong Kong. According to the announcement, ITG management will discuss the acquisition in more detail on the Second Quarter 2014 earnings call, today, July 31st.
RFQ-hub connects buy-side trading desks and portfolio managers with a large network of sell-side market makers, allowing them to place requests for quotes (RFQs) in OTC-negotiated equities, futures, options, swaps, convertible bonds, structured products and commodities. Going forward, the platform will be rebranded as ITG RFQ-hub. It will remain available as a standalone platform and will also be integrated into ITG’s Triton execution management system.
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“RFQ-hub is a welcome addition to our global technology platform,” said Bob Gasser, CEO and President of ITG. “This acquisition enhances the multi-asset services we are able to provide to our institutional investor clients in Europe and beyond. In the post- Dodd Frank world, clients are challenged increasingly by operational complexity across all asset classes and derivative instruments. We believe the team at RFQ-hub has built the best-in-class solution to simplify these work and trade flows.”
David Sagnier, CEO of RFQ-hub, said, “My colleagues and I are excited to join the ITG team. Together, we are dedicated to providing industry-leading tools and services to assist clients in sourcing quality liquidity and help them to seek best execution across all relevant asset classes.”