Sun, Apr 20, 2014
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   |   
Banner
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: Classic Auto Funds Limited (CAF) launches several car investing funds[more]

    Bailey McCann, Opalesque New York: A new trend in alternative alternatives is emerging - car appreciation funds. Classic Auto Funds Limited (CAF) is the first to market with several funds that make super elite luxury cars into real asset investments. As a result of growing overseas demand couple

  2. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  3. Opalesque Exclusive: Hedge fund replicators evolve[more]

    Bailey McCann, Opalesque New York: Hedge fund replicators as a group of products tend to get a bad rap from hedge fund managers who suggest that the best a replicator can offer is dynamic beta capture. A

  4. Opalesque Exclusive: Pensions, endowments, family offices reconsider life settlement investments[more]

    Bailey McCann, Opalesque New York: Hedge funds were once the largest investors in the life settlement industry, now the industry is seeing more interest from pensions, endowments and family offices directly. Life settlements have always been considered a niche part of the investing landscape, an

  5. SEC allows investment funds to use social media[more]

    Bailey McCann, Opalesque New York: The Securities and Exchange Commission (SEC) has released new guidance letting investment funds and advisors use social media to promote client reviews. The guidance seeks to assist investment managers in developing compliance policies and procedures reasonably