Agency broker ITG has acquired Paris-headquartered RFQ-Hub, a platform for trading OTC products including equities, futures, options and swaps.
ITG said the deal will expand its multi-asset capabilities for its clients in Europe and the rest of the world.
RFQ-Hub was founded in 2008 as a bilateral trading platform to enable buy-side firms to connect to sell-side market makers and request quotes for OTC trades. It employs 25 staff across locations in Paris, London and Hong Kong.
Following the acquisition, it will be rebranded as ITG RFQ-Hub and will be available as both a standalone platform and integrated into ITG’s execution management system Triton.
David Sagnier, CEO of RFQ-Hub, said, “My colleagues and I are excited to join the ITG team. Together, we are dedicated to providing industry-leading tools and services to assist clients in sourcing quality liquidity and help them to seek best execution across all relevant asset classes.”
Further financial details of the transaction will be revealed on ITG’s Q2 earnings call later today.