Trading technology firms set to merge

Vela Trading Technologies will acquire OptionsCity in a bid to expand products and services.

Vela Trading Technologies has confirmed it has entered into a definitive agreement to acquire futures and options trading and analytics provider OptionsCity.

The deal will see Vela’s front office products and services expand to include advanced analytics, risk management tools and trading and content services.

OptionsCity’s clients will also gain access to additional asset classes, trading venues, geographies, low-latency data feeds and market access services.

Jennifer Nayar, CEO of Vela, explained the combination of the two firms enables them to accelerate their growth strategies.

“Together we will be able to bring innovative technologies to our existing customers, and expand our solutions into new client segments, regions, and asset classes,” added Hazem Dawani, CEO of OptionsCity.

The acquisition is subject to customary closing conditions and is expected to close at the end of the second quarter this year.