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- Acquisition of Trade Alert expected to provide real-time notifications and client touchpoints, reaching end users with highly curated information, alerts and messaging through Cboe's own communications pipeline
- Service complements earlier Hanweck and FT Options acquisitions, further bolsters Cboe's diverse suite of information solutions offerings
- Deal closed on June 1, 2020
CHICAGO, June 2, 2020 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today announced it has acquired the business of Trade Alert, LLC, a real-time alerts and order flow analysis service provider based in New York.
Trade Alert will integrate with Cboe Information Solutions' comprehensive suite of data solutions, analytics and indices that help market participants understand and access financial markets. Cboe's Information Solutions offering is designed to optimize the customer experience throughout the life cycle of a transaction, from pre-trade to at-trade to post-trade, by providing insights, alpha opportunities, portfolio optimizations and seamless workflows. With Trade Alert, Cboe can deliver real-time trade data, market information and alerts, and Cboe content, including thought leadership, directly to customers.
Founded in 2005 by Henry Schwartz, Trade Alert is a software and services company focused on the synthesis and distribution of securities market intelligence to financial professionals. Trade Alert's system architecture combines proprietary software, ultra-low latency market data and high-performance computing to notify users of market activity and order flow dynamics relevant to their business in real-time.
"We are constantly engaging with our customers and working with them to develop smart, innovative solutions that address their needs," said Ed Tilly, Chairman, President and Chief Executive Officer of Cboe Global Markets. "Adding Trade Alert's highly-curated information, alerts and messaging to Cboe's existing Information Solutions offering will help our customers make sense of the abundance of raw market data available, arming them with solutions that can simplify complexity within the derivatives markets. We are excited to welcome Henry and the full Trade Alert team to Cboe Global Markets."
Cboe also acquired Hanweck and FT Options in February with the goal of building out the data analytics component of its Information Solutions group. Collectively, the cutting-edge services provided by Hanweck, FT Options and Trade Alert help clients gain market insights and understand their portfolio risk in real-time, driving better-informed trading decisions. The services also provide risk management tools crucial for today's market environment.
"Since 2005, Trade Alert has focused on helping our global network of institutional and self-directed traders maintain the highest degree of awareness and understanding of market activity to better inform trading decisions and client service," said Henry Schwartz, Founder and President of Trade Alert. "I couldn't be more pleased to bring our real-time alerts and analytics to Cboe where the value of our market intelligence will further enhance Cboe's robust Information Solutions offering."
To learn more about Cboe Information Solutions and Trade Alert, visit www.cboe.com/ISG.
Terms of the deal were not disclosed. The company funded the acquisition with cash on hand. Cboe considers its acquisition of the Trade Alert business to be nominally accretive for 2020 and is optimistic about the potential for growth going forward. The acquisition is immaterial from a financial perspective.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE) is one of the world's largest exchange holding companies, offering cutting-edge trading and investment solutions to investors around the world. The company is committed to defining markets to benefit its participants and drive the global marketplace forward through product innovation, leading edge technology and seamless trading solutions.
The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and volatility products based on the Cboe Volatility Index (VIX Index), recognized as the world's premier gauge of U.S. equity market volatility.
Cboe's subsidiaries include the largest options exchange and the third largest stock exchange operator in the U.S. In addition, the company operates one of the largest stock exchanges by value traded in Europe and is a leading market globally for ETP listings and trading.
The company is headquartered in Chicago with a network of domestic and global offices across the Americas, Europe and Asia, including main hubs in New York, London, Kansas City and Amsterdam. For more information, visit www.cboe.com.
Cboe®, Cboe Volatility Index®, VIX® and Cboe Global Markets® are registered trademarks of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.
Certain information contained in this news release may constitute forward-looking statements. We caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made and are subject to a number of risks and uncertainties.
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SOURCE Cboe Global Markets, Inc.