LiquidPoint, Convergex‘s options trading and tech business and Dash have closed their previously announced merger. The combined entity will be known as Dash Financial Technologies, a trading technology provider for the institutional trading community. No financial terms were disclosed. GTCR is now the majority owner of Dash Financial Technologies.
NEW YORK, March 1, 2017 /PRNewswire/ — Dash today announced that it has completed its merger with LiquidPoint (Convergex’s Options Trading and Technology business) to create Dash Financial Technologies. Private equity firm GTCR, which facilitated the transaction, is the majority owner of the new firm.
Dash Financial Technologies becomes one of the industry’s leading trading technology providers to the buy side, sell side and exchange communities. The firm brings to market a suite of high performance solutions unmatched in its breadth, with products in four distinct categories: Trading Technologies, Execution Services, Analytics and Regulatory Technologies. Through this product set, Dash executes 13% of the US options market and routes an additional 20% of the overall options market volume through its BrokerPoint and BLAZE™ floor broker workstation products. The firm is uniquely equipped to define and deliver the next generation of financial technology solutions catering to institutions that require increasingly specialized, complex and adaptable tools to exceed their goals surrounding best execution performance, reporting and compliance.
Peter Maragos, CEO of Dash Financial Technologies, said: “Today marks a momentous day for us all, and we could not be more excited to begin this new chapter for our firm. Dash now offers an extensive range of trading and execution tools, analytics capabilities and regulatory technologies to the entire institutional trading community. By combining this platform with the ability for our clients to see, measure and control their orders and executions, we genuinely believe we are ushering in the brokerage model of the future that is based on transparency, performance and customization.”
Collin Roche, Managing Director at GTCR, added: “This combination of people and products is extremely exciting, and Dash is positioned to further the reputation for exemplary service and technology that both firms have built over the years. We believe that with this team, product portfolio and technology platform in place, Dash will become a truly disruptive force in the industry.”
About Dash Financial Technologies
Dash Financial Technologies is a leading trading technology provider to the institutional trading community. With of a suite of highly customizable tools, Dash designs and delivers intelligent, high performance solutions in four product categories: Trading Technologies, Execution Services, Analytics and Regulatory Technologies. With a relentless focus on transparency, performance and customization, Dash Financial Technologies caters to institutions that require increasingly specialized, complex and adaptable tools to exceed their goals surrounding best execution.