Capital markets technology and execution provider Dash Financial Technologies has signed an agreement to acquire Chicago-based eRoom Securities.
The eRoom platform, which provides multi-asset trading technology, agency execution, risk management, reporting and clearing services to professional traders, institutions and hedge funds, will be rebranded as Dash Prime.
As the Dash Prime project gets underway, eRoom leadership will continue to be headed by Collin Carrico and Ben Schwartz.
“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,” says Carrico.
The transaction is expected to close in Q1 2019, contingent upon standard closing conditions including regulatory approvals.