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Dash and LiquidPoint merge to create Dash Financial Technologies

First Published 4th January 2017

Dash and Convergex sign agreement to merge Dash and Convergex's Options Trading and Technology business, LiquidPoint. New independent entity to be backed by GTCR.

Eric Noll, Convergex

Eric Noll, Convergex

New York - Dash Financial has announced that Dash and Convergex have signed a definitive agreement to merge Dash and LiquidPoint (Convergex's Options Trading and Technology business), creating a financial technology company in the options and equities markets.

Private equity firm GTCR, which owns a controlling interest in brokerage firm Convergex, will be contributing LiquidPoint from Convergex to merge it with Dash. The combined entity will operate as Dash Financial Technologies and be majority owned by GTCR. The independent company will be led by Peter Maragos as CEO and Ben Londergan as President.

"It has been very gratifying working with an exceptional team whose hard work resulted in impressive growth over the past three years and whose efforts were critical to this exciting transaction," said Eric W. Noll, Convergex President and CEO. "On behalf of Convergex, I would like to congratulate all of the parties involved in this deal and look forward to working with Dash Financial Technologies in the upcoming months on a smooth transition."

The transaction is expected to close in Q1 2017 subject to customary closing conditions including regulatory approvals.