Dash Financial Technologies has confirmed it is to acquire capital markets technology and execution provider, eRoom Securities.
The Chicago-based vendor provides multi-asset trading technology, agency execution, risk management, reporting and clearing services to professional traders, institutions and hedge funds.
The eRoom platform will form the basis of the upcoming Dash Prime offering, which aims to provide scale, technology and service to the professional trading community. Collin Carrico and Ben Schwartz, the management team of eRoom, will lead Dash Prime.
“The professional trading community requires the kind of high performance, customizable technology solutions that lend themselves perfectly to Dash’s transparent, innovative and technology-driven approach,” said Peter Maragos, CEO and co-founder of Dash Financial Technologies.
“Collin and Ben have built a tremendous business with a loyal client following – we look forward to partnering with their talented team to create Dash Prime and expanding the offering to deliver it to a wider segment of the professional trading community.”
Last year, Dash Financial acquired Convergex’s options business, Liquidpoint, providing the business access to the prime brokerage space.
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