DV Group, LLC, parent to DV Trading and DV Securities, announced today that it has signed an agreement to acquire the business of Allston Holdings LLC, parent to Allston Trading and Allston Capital. Expected to close by year-end, the transaction combines two of the nation's preeminent proprietary trading firms, both based in Chicago. Terms of the transaction were not disclosed.
Jared Vegosen, DV co-founder, said: "We've enjoyed rapid expansion over the past few years by adding new markets and business lines as well as attracting many new traders. We're thrilled to now add Allston's premier trading and development talent to our team - and to integrate Allston's world-class low latency systems and intuitive trading tools into our platform."
Allston CEO Nancy Stern said: "DV is absolutely the right partner to take forward what we have built at Allston - a remarkable blend of elite talent and world-class technology. We have no doubt the combination will be a success."
Founded by Dino Verbrugge and Vegosen, DV has offices in Chicago, New York, London and Toronto. Allston's offices in Chicago, New York and London will be combined with DV's offices in those locations, and Allston's Houston office will expand DV's presence into the energy capital of the world.
Allston trader Dimitar Popov said: "I'm extremely happy to be landing at DV. More than just having a good home to trade from, I'm energized by the prospect of teaming up with Dino and Jared to help continue DV's strategic growth plan."
NewLeaf Business Brokerage, LLC served as financial advisor to Allston in connection with the transaction
