Fri, Sep 19, 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   |   
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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  4. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali

  5. Short Selling - Notorious U.S. short-seller targets Alibaba[more]

    From Wantchinatimes.com: A notorious American short-seller appears to have "targeted" Chinese internet giant Alibaba on the eve of its historic public listing on the New York Stock Exchange, reports Chinese web portal Hexun. Alibaba's highly-anticipated listing on Friday could potentially be the big