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CHX today announced that it has hired San Francisco-based Financial Technology Partners LP ("FT Partners") as it considers its financial and strategic alternatives. FT Partners is a leading independent investment bank focused exclusively on the financial technology sector. Steve McLaughlin, Founder and Managing Partner, will be the lead investment banker for FT Partners.
FT Partners has served as the exclusive strategic and financial advisor on some of the industry's most significant transactions, including Liquidnet's equity financing, the sale of Automated Trading Desk to Citi, the sale of Wombat Software to NYSE Euronext, the sale of UK-based LatentZero to Fidessa and the acquisition by Investment Technology Group of both Macgregor and Plexus.
Dave Herron, CHX CEO, said, "We have a mandate to increase shareholder value and by engaging Steve and his team at FT Partners we will be exploring various strategic alternatives in furtherance of this objective. We anticipate that our trade count in March will set a CHX post-Reg NMS record and believe that we are well-situated to take advantage of potential strategic partnerships. A number of interested parties have approached us and we felt it wise to engage a top independent advisor to help lead the evaluation process."
About CHX
CHX is an integral part of the National Market System offering competition to all U.S. equity markets. With a robust matching engine and its CHXConnect routing network, CHX customers can choose immediate display, execution or cancellation of orders and/or order-routing to FINRA Market-Makers and CHX Institutional Brokers who are able to provide customized order handling solutions. Orders executed on the CHX enjoy the benefits of an exchange print with full exposure to all National Market System participants. For additional information, please visit www.chx.com
