Cboe Global Markets, Inc. (Cboe: CBOE), one of the world’s largest exchange holding companies, today announced it has acquired the business of Trade Alert, LLC, a real-time alerts and order flow analysis service provider based in New York.
Trade Alert will integrate with Cboe Information Solutions’ comprehensive suite of data solutions, analytics and indices that help market participants understand and access financial markets. Cboe’s Information Solutions offering is designed to optimize the customer experience throughout the life cycle of a transaction, from pre-trade to at-trade to post-trade, by providing insights, alpha opportunities, portfolio optimizations and seamless workflows. With Trade Alert, Cboe can deliver real-time trade data, market information and alerts, and Cboe content, including thought leadership, directly to customers.
Terms of the deal were not disclosed. Cboe Global Markets funded the acquisition with cash on hand. Cboe considers its acquisition of the Trade Alert business to be nominally accretive for 2020 and is optimistic about the potential for growth going forward. The acquisition is immaterial from a financial perspective.
Founded in 2005 by Henry Schwartz, Trade Alert is a software and services company focused on the synthesis and distribution of securities market intelligence to financial professionals. Trade Alert’s system architecture combines proprietary software, ultra-low latency market data and high-performance computing to notify users of market activity and order flow dynamics relevant to their business in real-time.
“We are constantly engaging with our customers and working with them to develop smart, innovative solutions that address their needs,” said Ed Tilly, Chairman, President and Chief Executive Officer of Cboe Global Markets. “Adding Trade Alert’s highly-curated information, alerts and messaging to Cboe’s existing Information Solutions offering will help our customers make sense of the abundance of raw market data available, arming them with solutions that can simplify complexity within the derivatives markets. We are excited to welcome Henry and the full Trade Alert team to Cboe Global Markets.”
Cboe also acquired Hanweck and FT Options in February with the goal of building out the data analytics component of its Information Solutions group. Collectively, the cutting-edge services provided by Hanweck, FT Options and Trade Alert help clients gain market insights and understand their portfolio risk in real-time, driving better-informed trading decisions. The services also provide risk management tools crucial for today’s market environment.
“Since 2005, Trade Alert has focused on helping our global network of institutional and self-directed traders maintain the highest degree of awareness and understanding of market activity to better inform trading decisions and client service,” said Henry Schwartz, Founder and President of Trade Alert. “I couldn’t be more pleased to bring our real-time alerts and analytics to Cboe where the value of our market intelligence will further enhance Cboe’s robust Information Solutions offering.”
