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Opalesque Industry Update - Incapital, a leading underwriter and distributor of fixed income and market-linked securities, and 280 CapMarkets, a technology company providing best execution trading support and price transparency, announced today they are merging to create InspereX. The new company will become a unique fintech firm with a mission of improving fixed income distribution and trading for all market participants. The transaction is expected to close by the end of the first quarter 2021, with the merger of the firms' broker dealer businesses to occur thereafter, subject to customary regulatory approval. Financial terms were not disclosed. The creation of InspereX unites the strengths of two pioneering companies: Incapital, with its history of success in fixed income and market-linked product origination, underwriting, trading, sales, and distribution, co-founded by Tom Ricketts 21 years ago; and Silicon Valley fintech 280 CapMarkets, co-founded by technologists and bond veterans, including Gurinder S. Ahluwalia and David Rudd, in 2016 to digitally transform how the fixed income markets are viewed, accessed, and traded by advisors, institutions, and issuers. Incapital Co-Founder and Chairman Tom Ricketts commented, "We founded Incapital in 1999 to break down the barriers many investors and issuers faced when trying to access the full potential of the fixed income markets, and later market-linked securities. It was not a level playing field then, and while it has improved over the years thanks to the emergence of new technologies and market entrants, we believe improvement needs to accelerate for all market participants." Incapital CEO John DesPrez added, "The merger of Incapital and 280 CapMarkets is highly strategic and complementary, as together we seek to drive transformation in the fixed income markets. I look forward to serving as CEO as we join forces to establish InspereX." |
Industry Updates
Incapital and 280 CapMarkets creating a new fintech company
Friday, February 19, 2021
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