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