A big deal in the options trading world just got announced.
The new entity, named Dash Financial Technologies, will be majority owned by the private-equity firm GTCR, which is also a majority owner at Convergex.
The new firm will have a 13% market share in the US options agency execution space, according to a statement.
Dash, which was set up in 2011 by Peter Maragos and David Karat, 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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