Multinational developer of electronic trading solutions for professional futures and options traders OptionsCity Software has announced the acquisition of futures trading technology provider Optionshop, with the terms of the transaction having not been announced by either party.
The acquisition adds new technology capabilities to OptionsCity’s increasingly diverse product-set while extending its reach into new customer markets.
Optionshop is a futures-options trading technology company that provides a set of cloud-based APIs to allow businesses to access market data, place exchange orders, and utilize account management and risk controls, including real-time portfolio margining.
With the acquisition, OptionsCity gains new brokerage clients who currently utilize Optionshop’s white-labeled trading solutions, ranging from a downloadable trading application to custom HTML5 web-based applications.
“We are pleased to add Optionshop’s talented development team and innovative product-set to OptionsCity,” said Hazem Dawani, CEO at OptionsCity. “Over the past year, OptionsCity has been expanding its capabilities in trading technology, and Optionshop adds another important component to our offering.”
OptionsCity plans to utilize the Optionshop cloud- and mobile-based technology to enhance and complement its existing futures and options trading products. In addition, Optionshop will help OptionsCity attract a more diverse range of customers with the flexibility to offer a transaction-based fee model.
“We’ve built great software and an exciting business at Optionshop, and the acquisition will allow us to further expand our reach and offer even better solutions,” said David Karrow, interim CEO at Optionshop and Partner at Third Stone Partners, one of its investors.
“There are clear synergies between the two companies’ technology stacks,” said Doug Kurth, Director of Engineering at Optionshop. “The combination of the two technologies will provide the power and speed customers have come to expect from OptionsCity and the simplicity and access offered by Optionshop.”
This news arrives subsequent to the unveiling of Metro NOW, a modular, web-deployed version of OptionsCity’s Metro platform, empowering users to build a customized trading experience.
For the official announcement from OptionsCity, click here.