Chicago - DRW Trading Group and Chopper Trading have announced that DRW has agreed in principle to acquire the assets of Chopper. Chopper is a proprietary trading firm headquartered in Chicago, IL. Financial terms of the transaction were not disclosed.
Donald R. Wilson, Jr., Founder and Chief Executive Officer of DRW Trading Group, said: "Chopper Trading is a highly-respected and successful participant in the industry. They have amassed a talented team and operate trading strategies that are complementary to DRW's. Bringing our two organizations together will allow us to more efficiently provide liquidity to the financial markets. We are excited to join forces and look forward to working together."
"DRW is an industry leader with a track record of innovation and growth," said Raj Fernando, Chief Executive Officer of Chopper Trading. "Combining our two firms is a perfect fit that benefits our company and also the broader marketplace. I am proud of what we have built and I look forward to the synergy this will create."
Chopper Trading was founded in 2002 by Raj Fernando. It operates as a proprietary trading firm trading futures and fixed income securities on major international exchanges and is headquartered in Chicago.