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Hehmeyer LLC, a Chicago-based market maker in digital assets, today announced its agreement to merge its electronic liquidity provision business with Nortide Capital AG (with its operational subsidiaries Nortide Trading AG and Nortide Brokerage AG), a Swiss-based market maker in digital assets. The new firm, Hehmeyer Nortide AG, will dedicate itself to serving users of cryptocurrencies globally and will be headquartered in Zug, Switzerland.
Drawing on the strengths of each firm — including Nortide’s state-of-the-art trading platform and Hehmeyer’s globally established brand, extensive relationships, and developed compliance and risk management departments — Hehmeyer Nortide AG will enjoy broader market access while providing its counterparties with a deeper roster of digital assets at competitive prices.
“This rapidly growing industry is global in its nature, and this merger will allow us to service our counterparties on a global scale,” said Chris Hehmeyer, CEO and founder of Hehmeyer. “The skills, talents and expertise of the two companies are very complementary, and headquartering in Zug, known colloquially as ‘crypto valley,’ will put us in the middle of a vibrant crypto community that is innovating and creating new service offerings every day.”
Johan Wattenström, co-founder and Director of Nortide Capital AG, added, “This merger allows us to combine our operational efficiencies and provide improved pricing for a global community of crypto users. It was a natural fit for us to join forces with Hehmeyer, a brand that exemplifies trust in the crypto space.”
Hehmeyer Nortide AG will serve as a parent company for a number of operational subsidiaries, including Nortide’s current brokerage and trading businesses, and Hehmeyer’s businesses in the U.S., Canada, and the United Kingdom. The company will utilize the Hehmeyer brand.
The deal is scheduled to close in Q1 2021 and the terms have not been and will not be disclosed.
