A big deal in the options trading world just got announced.
The new entity, named Dash Financial Technologies, will be majority owned by private equity firm GTCR, which is also a majority owner at Convergex.
“This merger creates a well-capitalised, growing financial technology firm that is able to deliver the next generation of trading and transparency solutions to the largest and most sophisticated clients,” Collin Roche, managing director at GTCR, said in a statement.
The new firm will have a 13% market share in the US options agency execution space, according to a statement.
Dash was set up in 2011 by Peter Maragos and David Karat, and sets out to provide transparency in an increasingly complex options market. Maragos and Karat were named to Institutional Investor’s Trading Technology 40 in 2016.
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