CHICAGO, October 31, 2021 / PRNewswire / – Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, announced that it has entered into an agreement as a sponsor to invest in the acquisition planned from Trading Technologies International, Inc. (TT), a global provider of next-generation professional trading software, connectivity and data solutions.
Trading Technologies is expected to be acquired by 7RIDGE, a specialist development capital firm invested in transformational technologies, while Cboe is a sponsor of the fund managed by 7RIDGE, supporting the commitment of 7RIDGE and Trading Technologies to continue the growth of the company in the world. Cboe is strategically aligned with Trading Technologies’ vision to provide a leading trading, connectivity and data network to the global trading community. Trading Technologies will remain independent and focused on providing innovative, enterprise-wide solutions for institutional and professional trading.
As owner and operator, 7RIDGE plans to fuel the organic growth of Trading Technologies and enable the company to make targeted strategic acquisitions going forward. With the combination of 7RIDGE’s operating experience and the highly regarded technology of Trading Technologies and its extensive global network of clients, Trading Technologies should be in a strong position to accelerate the expansion of its software as a cloud-based service (SaaS) technology platform. Trading Technologies plans to continue to work closely with international exchanges, liquidity platforms and market participants as a key provider of listed derivatives trading, connectivity and data services.
Trading Technologies has a large and highly engaged customer base with thousands of users, including top futures contractors (FCMs) and brokers around the world, as well as many of the world’s leading buying institutions. Trading Technologies’ cloud-based SaaS technology architecture is designed to be flexible and open to functional plugins. Additional products and capabilities can be added through in-house build, partnership or acquisition and rapidly deployed to Trading Technologies’ user network.
Cboe expects to fund its investment with a combination of cash and increased debt in the fourth quarter of 2021, subject to certain regulatory approvals and other customary closing conditions associated with the acquisition of Trading Technologies. Terms of the deal were not disclosed, but the company noted that its investment in the transaction is not material from Cboe’s financial perspective.
Trading Technologies, headquartered in Chicago with 14 offices around the world, creates professional trading software, infrastructure and data solutions for a wide variety of users including owner traders, brokers, fund managers, CTAs, hedge funds , commercial hedgers and risk managers. In addition to providing access to the world’s leading international exchanges and liquidity platforms through its TT® trading platform, Trading Technologies offers domain-specific technology for cryptocurrency trading and machine learning tools. for transaction monitoring.
Additional information about the transaction is available in Trading Technologies Press release.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, provides cutting-edge trading, clearing and investing solutions to market players around the world. The company is committed to harnessing a trusted and inclusive global marketplace, providing leading products, technologies and data solutions that empower participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and forex, through North America, Europe and Asia Pacific. To learn more, visit www.cboe.com.
Cboe® and Cboe Global Markets® are registered trademarks of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.
Cautions Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as “may”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “” Or “continue”, and the negative of those terms and other comparable terms. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. , which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions. based on our current expectations and projections of future events. There are significant factors that could cause our actual results, level of activity, or performance or our accomplishments differ materially from those expressed or implied by forward-looking statements.
We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which a factor, or a combination of factors, may cause results to differ materially from those contained in forward-looking statements.
Certain factors that could cause actual results to differ include: satisfaction of the conditions precedent to the completion of the proposed transaction, including, without limitation, obtaining regulatory approvals on desired or anticipated conditions; the impact of the novel coronavirus (“COVID-19”) pandemic, including changes in broad business behavior in the market; the loss of our right to list and trade exclusively certain options on indices and futures; economic, political and market conditions; compliance with legal and regulatory obligations; competition and price consolidation in our industry; decreases in trading or clearing volumes, market data charges or a change in the mix of products traded on our exchanges; legislative or regulatory changes; our ability to protect our communications systems and networks against security risks, cybersecurity risks, insider threats and unauthorized disclosure of confidential information; increased competition from foreign and domestic entities; our dependence on and exposure to third party risks; fluctuations in exchange rates; the ability of our index providers to maintain the quality and integrity of their indexes and to operate in accordance with our agreements; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to attract and retain executives and other qualified employees; our ability to minimize the risks, including our credit and default risks, associated with operating a European clearinghouse; our ability to manage trading and clearing volume and trade traffic, including significant increases, without failure or degradation of the performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges related to our use of open source software code; our ability to meet our compliance obligations, including managing potential conflicts between our regulatory responsibilities and our status as a for-profit company; our ability to maintain BIDS Trading as an independently managed and operated trading platform, separate from and not integrated with our registered national stock exchanges; damage to our reputation; the ability of our compliance and risk management practices to effectively monitor and manage our risks; our ability to effectively manage our growth and our acquisitions or strategic alliances; restrictions imposed by our debt obligations and our ability to make payments or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; and the accuracy of our estimates and expectations. More detailed information on factors that could affect the difference from our actual results can be found in our filings with the SEC, including our annual report on Form 10-K for the year ended. December 31, 2020 and other documents filed from time to time with the SEC.
We do not, and expressly disclaim, any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
SOURCE Cboe Global Markets, Inc.