Dash Financial Technologies, a NYC-based capital markets technology and execution provider, is to acquire eRoom Securities, LLC, a Chicago, IL-based provider of multi-asset trading technology, agency execution, risk management, reporting and clearing services to professional traders, institutions and hedge funds.
The amount of the deal – which is expected to close in Q1 2019 subject to customary closing conditions including regulatory approvals – was not disclosed.
Dash will use the eRoom platform to launch Dash Prime™, which will continue to be led by eRoom’s team headed by Collin Carrico and Ben Schwartz.
Launched in 2011 by Peter Maragos, CEO, Dash Financial Technologies is a capital markets technology and execution services provider. Using the Dash360 platform, clients receive full routing and cost transparency and a comprehensive suite of tools to visualize all aspects of their orders in real time.
Founded in 1996, eRoom Securities offers a low-latency order management system (OMS) that works with a wide range of trading platforms and allows clients to efficiently manage and route their order flow to any exchange or execution provider. Its real-time risk and margin application, along with market data and trading activity scanning tools, let traders identify trading opportunities while managing risk and maximizing leverage. Clients benefit from a portfolio reporting system which allows them to track account performance, trading history, option order counts, exchange fee estimates as well as fee and cash management.
eRoom Securities is a SEC registered agency-only introducing broker dealer and is a member of FINRA, NAF and SIPC.