Cboe Global Markets has acquired the business of Trade Alert, a real-time alerts and order flow analysis service provider based in New York. The service is expected to complement earlier Hanweck and FT Options acquisitions, and further bolsters Cboe’s diverse suite of information solutions offerings. Terms of the deal were not disclosed, but the company funded the acquisition with cash on hand.
Trade Alert will offer real-time notifications and client touchpoints, reaching end-users with highly curated information, alerts and messaging through Cboe’s own communications pipeline. The platform will integrate with Cboe Information Solutions’ comprehensive suite of data solutions, analytics, and indices, which is designed to optimize the customer experience throughout the life cycle of a transaction, from pre-trade to at-trade to post-trade, by providing insights, alpha opportunities, portfolio optimizations, and seamless workflows.
Ed Tilly, Chairman, President and Chief Executive Officer of Cboe Global Markets, commented: “We are constantly engaging with our customers and working with them to develop smart, innovative solutions that address their needs. Adding Trade Alert’s highly-curated information, alerts and messaging to Cboe’s existing Information Solutions offering will help our customers make sense of the abundance of raw market data available, arming them with solutions that can simplify complexity within the derivatives markets. We are excited to welcome Henry and the full Trade Alert team to Cboe Global Markets.”
Henry Schwartz, Founder and President of Trade Alert, said: “Since 2005, Trade Alert has focused on helping our global network of institutional and self-directed traders maintain the highest degree of awareness and understanding of market activity to better inform trading decisions and client service. I couldn’t be more pleased to bring our real-time alerts and analytics to Cboe where the value of our market intelligence will further enhance Cboe’s robust Information Solutions offering.”
Prior to the deal with Trade Alert, Cboe acquired Hanweck and FT Options in February with the goal of building out the data analytics component of its Information Solutions group. Hanweck, FT Options, and Trade Alert will together help clients gain market insights and understand their portfolio risk in real-time, driving better-informed trading decisions.