Order Execution Services Holdings is the parent company of Order Execution Services, LLC, a leading independent introducing and agency broker-dealer. Terms of the acquisition were not disclosed
"The completion of this acquisition is a major milestone as OES continues to aggressively grow and further position itself under Reg. NMS," said David M. Scheckel, CEO of OES.
'New Era for OES'
"Today, a new era begins for OES," Mr. Scheckel said. "OES is now delivering a competitive trading solution, complete with competitive pricing, FIX connectivity and total anonymity for ABS customers, while continuing to focus on innovation and attention to customer service.
"As a result of this acquisition," he said, "OES is better able to maximize our services as a one-stop provider of advanced order routing and connectivity."
Archipelago Holdings, Inc. (PCX: AX), the owner and operator of the Archipelago Exchange(R) (ArcaEx(R)), had operated ABS as an introducing broker that provided broker-dealer customer access to ArcaEx for securities traded on ArcaEx.
"ABS customers will benefit from the enhanced connectivity and customer services provided under the growing umbrella of OES," said Mike Cormack, president of Archipelago.
