In the beginning of January this year, Dash Financial and Convergex signed a definitive agreement to merge Dash and LiquidPoint (Convergex’s Options Trading and Technology business) to create a financial technology company in the options and equities markets.
Today, almost two months later, Dash announced that it has completed its merger with LiquidPoint 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.
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.