Forefront Communications

FOW: ​Vela Trading Agrees to Acquire OptionsCity


Mark Dowd

Mark Dowd

Vela Trading Technologies has entered an agreement to acquire Chicago-based trading tech firm OptionsCity, a move Vela said will enhance its trading technology suite.

The firms said the acquisition will expand Vela’s front-office capabilities to include “advanced analytics and risk management tools” and enhance “its market access managed services with additional trading and content solutions”. The move will also accelerate the group’s “data cloud strategy.”

Vela CEO Jennifer Naya said: “The combination of Vela and OptionsCity enables us to accelerate both companies’ growth strategies, delivering an enhanced suite of trading and market data technology across multiple asset classes and geographies.”

Head of Chicago-based OptionsCity, Hazem Dawani, said both companies will now “be able to bring innovative technologies to our existing customers, and expand our solutions into new client segments, regions, and asset classes”.

Headquartered in New York, Vela provides low-latency market data, access gateways, and consolidated market data feeds for access to global liquidity across North America, Asia and Europe. Clients include “tier one banks, broker dealers, retail trading firms, investment banks, hedge funds, trading technology software providers, and proprietary trading firms,” the firm said.

OptionsCity serves “professional futures and options traders, market-makers, introducing brokers, and financial institutions worldwide”, providing trading, risk management and analytics tools.

Read the full article here.

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