Instinet Incorporated has agreed to acquire substantially all the business and assets of TORC Financial, LLC, a provider of derivatives trading technologies.
The acquisition will provide Instinets clients with immediate access to TORCs suite of options-focused, broker-agnostic solutions for institutional derivatives trading. These solutions which include execution, analytics and risk management capabilities will significantly enhance Instinets electronic cross-asset trading offering.
Led by trading technology and options industry veteran John Duffell, TORC offers a full suite of derivatives trading technologies, including TOP (TradeSpeed Options Professional), a multi-asset class application that offers integrated options analytics and execution capabilities and is integrated with most major US-based prime brokers; and RiskPro, which allows for the real-time tracking of risk metrics across positions, accounts, groups, asset classes and trading desks.
Instinet has long been recognized for its sophisticated electronic equities trading tools. Trading in derivatives is evolving in a manner very similar to the cash equity markets over the last decade. This acquisition allows us to leverage the capabilities of the two organizations and move Instinet to the forefront of electronic derivatives trading, say Anthony Abenante and Fumiki Kondo, co-Chief Executive Officers of Instinet Incorporated.
We see the options space as one of the fastest growing asset classes in the U.S. The TORC acquisition is a strategically integral move for Instinet and greatly enhances our ability to serve our customers.
Were excited to join forces with Instinet, given the clear synergies between our offerings and the similarities in our approach to technology development. The combination of our extensive options industry experience with Instinets global distribution footprint and superior technology infrastructure bode well for a successful integration and a rich cross-asset offering for our combined client base, says Duffell.
L.D.