CME Group Acquires Pivot from DFJ Gotham Ventures

DFJ Gotham Ventures has sold Jersey City-based portfolio company Pivot Inc. to diverse derivatives marketplace CME Group, for an undisclosed amount.

Following the transaction, Pivot, which is led by CEO John H. Eley, will provide CME Group with instant messaging software to power CME Direct Messenger, an instant messaging platform for traders in the energy markets.
These tools are widely used to distribute and negotiate Request-for-Quotes, block orders, complex options and other order types within the energy and equity markets.
CME Direct Messenger, which will integrate Pivot’s technology into pre-trade, trade and post-trade workflows of traders and brokers, is part of CME Direct, a new technology offering side-by-side trading of exchange listed and over-the-counter markets. It currently supports trading of CME Group’s benchmark energy futures markets and OTC energy swaps.

For equity market participants, Pivot will continue to be offered and supported as a stand-alone service.



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