The merger that creates Dash Financial Technologies today also advances a long-time investment in the industry for Chicago private-equity firm GTCR.
GTCR initially bought into the New York-based broker and technology firm Convergex in 2006, and added Chicago-based LiquidPoint to the business the following year. Now, GTCR is lifting LiquidPoint out of Convergex to combine it with New York-based Dash Financial.
Dash Financial Technologies may gain new advantages by knitting together technology tools, execution services, and analytics in a suite of products that CEO Peter Maragos said offers more transparency to clients than do some rivals.
The newly formed company will have some 500 clients, including banks, broker-dealers, exchanges, hedge funds and pension funds, and 140 employees, with the bulk of those workers in Chicago.