Cboe plans to support the continued development and expansion of the Trading Technologies platform globally
Cboe supports Trading Technologies’ vision of delivering seamless trading, connectivity and data network backed by the latest technology to the global trading community.
– Cboe being a limited partner in the acquisition, and Cboe’s investment is not material from its financial perspective
ChicagoAnd October 31, 2021 /PRNewswire/ – Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, has entered into an agreement as a limited partner to invest in the planned acquisition of Trading Technologies International, Inc. (TT), a global provider of next-generation professional trading software, communication and data solutions.
Trading Technologies has an extensive and highly engaged client base with thousands of users, including the world’s leading Commission Futures Dealers (FCM) and brokers, as well as many of the world’s leading buy-side institutions. Trading Technologies’ cloud-based SaaS architecture is designed to be flexible and open to functional plug-ins. Additional products and capabilities can be added through internal building, partnership or acquisition and rapidly deployed to users’ trading technology network.
Cboe plans to fund its investments with a combination of cash on hand and increased debt in the fourth quarter of 2021, subject to certain regulatory approvals and other usual closing conditions associated with the acquisition of Trading Technologies. Terms of the deal were not disclosed, but the company indicated that its investment in the deal is not material from Cboe’s financial perspective.