I.A. Englander has entered into a definitive agreement to acquire Alaris Trading Partners.
The terms of the transaction, which is subject to review and approval by the Financial Industry Regulatory Authority, were not disclosed.
One of the largest independent US derivatives brokerage firms, I.A. Englander serves clients throughout the US, Canada, Europe, Asia and Latin America. I. A. Englander’s core options execution business represents a significant share of the daily traded contracts on the American Stock Exchange, the Chicago Board Options Exchange and NYSE Arca Options.
Alaris provides institutional brokerage services to hedge funds, asset managers, and registered investment advisers across the US. Services include direct access trading, multi-prime brokerage, financing, institutional reporting, capital introductions and agency execution.
Alaris will operate as Englander Alaris Prime Services, a division of I.A. Englander.
“Moving into prime brokerage has been a carefully planned and structured step involving nearly two years of preparation,” says Stephen R. Tobias, co-founder and president of I.A. Englander. “We were determined to enter the market with a highly differentiated service offering that would be the result of working with best-of-breed partners, and Alaris is such a partner. They are a well established, fast growing firm with a very strong management team, an enviable track record and more than 200 clients across the country.”
“This is a tremendously important step for us,” adds Patrick Boyle, Alaris chief executive and co-founder. “I.A. Englander’s trading technology and high profile gives us a service offering that positions us to compete for larger clients. Our success has been based on enhancing what is usually a fairly commoditized platform by introducing prime brokerage with a real concierge approach – everything from helping a start-up manager find other service providers and assisting with marketing materials to providing capital introductions.”
