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ITG and OpTech to form Matrix Holding Group

First Published 22nd September 2017

ITG has signed a definitive agreement with Option Technology Solutions (OpTech) to form Matrix Holding Group, a newly established derivatives execution and technology business.

Frank Troise, ITG

Frank Troise, ITG

New York and Chicago - Led by LiquidPoint founder and former CEO, Tony Saliba, Matrix will offer derivatives trading technology and execution services to broker dealers, traders and hedge funds. ITG will hold a minority stake in the partnership and will contribute the ITG Derivatives broker-dealer (to be renamed Matrix Executions) and derivatives-focused software and technology to create the Matrix Pro EMS/OMS.

Matrix will have a dedicated client service team, operations, and technology staff. OpTech will contribute the management team to provide leadership for the venture, a retail-focused trading and analytics platform (to be named Matrix Elite) and capital to expand and grow the business. The management staff will include Michael McNamara, former COO of LiquidPoint, and Jordan Naylor, former CTO of LiquidPoint and Vice President at CBOE.

ITG will continue to service its buy-side customers with multi-asset options and futures capabilities through the Triton EMS and ITG's trading desk.

Commenting on the joint venture, ITG CEO and President, Frank Troise, said, "By partnering with Tony and the OpTech team we will have the industry expertise and technological innovation to establish Matrix as a leading offering for derivatives trading, allowing ITG to further sharpen our focus on serving institutional clients across asset classes while simultaneously increasing operating efficiency."

The Matrix partnership will be based in Chicago.