Dash Financial Technologies, the provider of award-winning technological solutions for transparent trading technologies to institutional entities has announced the acquisition of eRoom Securities, LLC and the transaction is expected to conclude by the end of first quarter of 2019.
eRoom Securities, LLC is a Chicago-based provider of prime brokerage solutions and once it is acquired by Dash Financial, it will be rebranded as Dash Prime and there will be no change in the management team and will continue to be led by Collin Carrico and Ben Schwartz. The deal is subject to regulatory approval.
Dash Prime will help to bring technology and services to the professional trading community. Currently, eRoom provides brokerage services suite ranging from multi-asset trading technology, agency execution, risk management, reporting and clearing services. The company offer its services to institutional clients, hedge funds and professional investors.
Commenting on the acquisition, Peter Maragos, the CEO and Co-Founder of Dash Financial Technologies said:
“The professional trading community requires the kind of high performance, customizable technology solutions that lend themselves perfectly to Dash’s transparent, innovative and technology-driven approach.”
“Collin and Ben have built a tremendous business with a loyal client following – we look forward to partnering with their talented team to create Dash Prime and expanding the offering to deliver it to a wider segment of the professional trading community.”
Collin Carrico added:
“Joining forces with Dash puts us at the leading edge of technology and enables us to broaden our prime services suite to create more opportunities for our current and future clients. With access to a much wider suite of institutional solutions, we can now offer our clients the ability to solve more problems while passing along the scale and efficiencies technology enables.”
