PEAK6 buys Electronic Transaction Clearing
Summary
The transaction will align ETC and Apex, two firms with a shared mission to improve foundational financial processes with technology, and position both organizations as alternatives to traditional custodians through the delivery of flexible, customizable, digital solutions that facilitate speed and innovation. “Combining each firm’s distinct philosophy of leveraging technology to enhance service and increase efficiency will strengthen our commitment to leading the digital revolution in custody and clearing.” The business will report to Mr. Capuzzi and continue to operate out of offices in Los Angeles and New York. PEAK6 began with a simple premise: to apply technology to make the options market operate more efficiently—and to realize great financial returns in the process. Founded in 2012 and based in Dallas – with offices in New York City, Chicago and Portland, Oregon – Apex Clearing Corporation is registered with the SEC, a member of FINRA and a participant in SIPC. Since its regulatory approval in July 2009, the company has routinely cleared a significant percentage of all U.S. daily equities share volumes.