PEAK6, the Chicago-based investment and technology firm, today announced the acquisition of Electronic Transaction Clearing, Inc. (“ETC”), a custodian and clearing provider with an innovative, technology-driven approach to serving the institutional and professional trading marketplace.
ETC’s institutional orientation will expand PEAK6’s footprint in custody and clearing and is a direct complement to one of its core businesses, Apex Clearing, which is primarily focused on the retail marketplace. The transaction will align ETC and Apex, two firms with a shared mission to improve foundational financial processes with technology, and position both organizations as alternatives to traditional custodians through the delivery of flexible, customizable, digital solutions that facilitate speed and innovation.
“We look forward to exploring how stronger alignment between the ETC and Apex Clearing brands can result in growth and expansion for both companies and their respective clients,” said Bill Capuzzi, partner at PEAK6 and Chief Executive Officer of Apex Clearing. “Combining each firm’s distinct philosophy of leveraging technology to enhance service and increase efficiency will strengthen our commitment to leading the digital revolution in custody and clearing.”
The business will report to Mr. Capuzzi and continue to operate out of offices in Los Angeles and New York.
Freeman & Co. acted as financial advisor to ETC.
Terms of the transaction were not disclosed.
Subscribe to PICANTE via Email
Follow us on Facebook
Subaru Chooses TomTom Navigation for All-New US Vehicles
Continuity Wraps Up a Strong 2019 with a Strategic Acquisition, the Launch of a New Product and Multiple New Client Signings
ZetaDisplay adapts its organization to increase scalability and growth
GridGain’s Strong Market Momentum Continued in 2019
Microchip Joins Responsible Business Alliance (RBA) – the Global Industry Coalition Dedicated to Corporate Social Responsibility
CDK Global to Announce Second Quarter Fiscal 2020 Financial Results on February 4, 2020
Phenom People Raises $30 Million in Series C Proving the HR Shift Towards AI-Powered Talent Experiences
NETSOL Technologies to Ring Nasdaq Closing Bell on Tuesday, January 21, 2020
Vouch uses Socotra’s cloud-based platform to launch insurance products tailored for high-growth startups
Timeout called on online negativity as mobile users are invited to #TextForHumanity
Design Intelligence Award 2020 Is Looking for the Most Outstanding Design
Rovio Entertainment Corporation: Repurchase of own shares on 8 January 2020
CORRECTING and REPLACING Robins Kaplan Announces Bremer Bank Employee-Shareholders File Class-Action Lawsuit Against Three Trustees of Otto Bremer Trust
Shareholder Alert: Robbins LLP Announces Mohawk Industries, Inc. (MHK) Sued for Misleading Shareholders
Join TOPs of gambling hangout: BET2020 proposes a unique offer!
Digital Securities Guru Thomas Carter on The Two Keys That Will Unlock Mass Adoption of Cryptocurrency/Blockchain in 2020
Rovio Entertainment Corporation: Repurchase of own shares on 9 January 2020
The North American Bitcoin Conference Lands in Miami
What Does Public Domain Day Mean for Book Readers?
Buying a Home – What Should You Look After?
Follow our Tweets
Cannabis2 days ago
7 Things to Consider Before Buying Safe CBD Products
Augmented Reality (AR)4 days ago
Fluper Featured as the Best Android App Development Company By Crowd. Review
IT6 days ago
Jumei Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company at $20.0 per ADS
Guest Articles3 days ago
Robo.cash doubles funding volumes in 2019
Business and Management5 days ago
The Law Offices of Frank R. Cruz Announces Investigation on Behalf of The RealReal, Inc. Investors (REAL)
IT5 days ago
MoneyGram and EbixCash Sign Exclusive Strategic Agreement to Expand Presence in India
Business and Management7 days ago
Acronis Named Official Cyber Protection Partner of the San Diego Padres
IT5 days ago
Ameri Holdings to Merge with Jay Pharma Inc., Evidence-Based Cannabinoid Medicine & Wellness Company Focused on Cancer