Sun, Jul 24, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

IA Englander & co moves into multi prime services, announces acquisition of Alaris Trading Partners

Wednesday, November 10, 2010
Opalesque Industry Update – I.A. Englander & Co. (I.A. Englander) and Alaris Trading Partners, LLC (Alaris) jointly announced that they have entered into a definitive agreement for the acquisition of Alaris by I.A. Englander. The terms of the transaction, which is subject to review and approval by the Financial Industry Regulatory Authority (FINRA), were not disclosed.

One of the largest independent U.S. derivatives brokerage firms, I.A. Englander serves clients throughout the United States, 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 (AMEX), the Chicago Board Options Exchange (CBOE), and NYSE Arca Options (NYSE Arca).

Alaris provides institutional brokerage services to hedge funds, asset managers, and Registered Investment Advisors across the United States. Through strategic alliances with major securities industry firms, Alaris offers clients a broad selection of services that includes 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,” said 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. We think they are highly deserving of their recent number one ranking for prime brokerage in North America from Global Custodian magazine. They have the same philosophy, the same mindset as we do, and by combining what they have built with our trading technology, you have a platform that becomes very scalable when you consider the services the combined firm will offer.

“In shaping our approach to multi-prime services, building custodial and clearing relationships with major institutions and putting in place risk management systems were key considerations. We established relationships with JP Morgan, Jeffries and Merrill Lynch, and we sought technology that would allow us to monitor our clients in real time, offering them real time risk management and portfolio management systems. Wrapping this infrastructure around what our firm has always done well – customer service and being the low cost service provider – results in a very attractive service offering.”

“This is a tremendously important step for us,” said Patrick Boyle, Alaris CEO 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.”

“As a division of I.A. Englander,” adds Darren Day, President and Co-Founder of Alaris, “we will be able to provide seamless risk management and reporting technology. This is coupled with I.A. Englander’s options expertise and the fully transparent, low latency and low cost trading technology provided by Dash Financial, I.A. Englander’s electronic execution division.

(press release)

Source

ML

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe