Combined company will deliver an expanded set of front office products and services, including market access, risk management & analytics
Vela Trading Technologies LLC (Vela), a global leader in high performance trading and market data technology, has entered into a definitive agreement to acquire OptionsCity Software, a global provider of futures and options trading and analytics solutions.
The OptionsCity acquisition will expand Vela’s front-office capabilities to include advanced analytics and risk management tools, enhance its market access managed services with additional trading and content solutions, and accelerate its data cloud strategy. The acquisition will also accelerate OptionsCity’s growth strategy, providing its clients with access to additional asset classes, trading venues, geographies, low-latency data feeds, and market access products.
Jennifer Nayar, CEO of Vela, said, “This acquisition will continue to enhance the value we deliver to our clients. We are delighted to enhance our award-winning managed services, development and support teams with OptionsCity’s technical expertise and market knowledge.” She added, “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.”
Vela, headquartered in New York, with offices in Europe and Asia, is a trading technology company that provides low-latency market data feed handlers, market access gateways, and consolidated market data feeds for access to global liquidity across North America, Asia, and Europe. Its clients include tier 1 banks, broker dealers, retail trading firms, investment banks, hedge funds, trading technology software providers, and proprietary trading firms.
Located in Chicago, OptionsCity specializes in powering the trading, risk management, and analytics needs of professional futures and options traders, market-makers, introducing brokers, and financial institutions worldwide.
Hazem Dawani, CEO of OptionsCity commented: “We are excited to be joining Vela’s growing global family. Together we will be able to bring innovative technologies to our existing customers, and expand our solutions into new client segments, regions, and asset classes. I’m proud of what our company has achieved and look forward to even greater accomplishments.”
The transaction is subject to customary closing conditions and is expected to close at the end of Q2 2017.
Willkie Farr & Gallagher LLP served as Vela’s legal advisors in the transaction. Marlin & Associates acted as the exclusive strategic and financial advisor to OptionsCity. DLA Piper LLP served as OptionsCity’s legal advisors.
Vela is an independent global leader in high performance trading and market data technology. We provide the breadth of coverage and depth of expertise demanded by today’s multi-asset, multi-region electronic trading environment. Our clients benefit from our award-winning managed services, white-glove global customer support, and world-class professional services from an experienced team comprised of seasoned financial services industry experts and cutting-edge technologists.
Providing premier market data and trading technology, Vela improves time-to-market, lowers costs and eliminates complexity. Vela delivers products that empower our clients to focus on their core business strengths, leveraging key trading infrastructure solutions via our technology, expertise and experience.
OptionsCity powers the trading, risk management and analytics needs of futures and options traders, market makers, financial institutions and other market participants worldwide. OptionsCity is a certified Independent Software Vendor and a leading source of electronic options trading volume on global derivatives exchanges.