DASH to Acquire eRoom Securities

By Jen Fagenson

December 6, 2018

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DASH Financial Technologies, the industry’s leading capital markets technology and execution provider, today announced it has signed a definitive agreement to acquire eRoom Securities, LLC.

eRoom, based in Chicago, provides multi-asset trading technology, agency execution, risk management, reporting and clearing services to professional traders, institutions and hedge funds. DASH will use the eRoom platform to launch Dash Prime™, which will continue to be led by eRoom’s highly accomplished and experienced management team headed by Collin Carrico and Ben Schwartz.

“We are delighted to welcome Collin, Ben and the eRoom team into the DASH family,” said Peter Maragos, CEO and Co-Founder of DASH Financial Technologies. “The professional trading community requires the kind of high performance, customizable technology solutions that lend themselves perfectly to DASH’s transparent, innovative and technology-driven approach. Collin and Ben have built a tremendous business with a loyal client following – we look forward to partnering with their talented team to create DASH Prime and expanding the offering to deliver it to a wider segment of the professional trading community.”

“Joining forces with DASH puts us at the leading edge of technology and enables us to broaden our prime services suite to create more opportunities for our current and future clients,” said Carrico. “With access to a much wider suite of institutional solutions, we can now offer our clients the ability to solve more problems while passing along the scale and efficiencies technology enables.”

The transaction is expected to close in Q1 2019 subject to customary closing conditions including regulatory approvals.

Sandler O’Neill + Partners, L.P. served as eRoom’s financial advisor and Paul Hastings LLP served as its legal advisor. Kirkland & Ellis LLP served as Dash’s legal advisor.

About Dash Financial Technologies

Launched in 2011, DASH Financial Technologies is the industry’s leading capital markets technology and execution services provider. DASH’s philosophy is simple: with technology, clients should be empowered to craft, analyze and refine bespoke solutions calibrated to their precise performance goals. Using the award-winning DASH360 platform, clients receive full routing and cost transparency and a comprehensive suite of tools to visualize all aspects of their orders in real time. With this emphasis on technology, DASH has become the industry’s leading provider of wholly customizable and transparent trading solutions, routing approximately 14% of the daily OCC volume and an additional 25% touching its workflow and compliance tools. For more information go to www.dashfinancial.com.

About eRoom Securities

Founded in 1996, eRoom Securities, LLC provides multi-asset trading technology, agency execution, risk management, clearing and reporting capabilities to professional traders, institutions and hedge funds requiring advanced prime-brokerage solutions. Specializing in catering to firms using strategies involving equity derivatives, eRoom’s highly-experienced team tailors this comprehensive suite to best meet individual operational requirements and nuance, allowing clients to focus on the business of trading while ensuring best practices throughout the process.