OptionsCity Software has acquired futures trading technology provider Optionshop for an undisclosed sum.
According to the firm, the move will add new technology capabilities to OptionsCity’s product-set while extending its reach into new customer markets.
With the acquisition, OptionsCity gains new brokerage clients who currently utilise Optionshop’s white-labelled trading solutions, ranging from a downloadable trading application to custom HTML5 web-based applications.
“Over the past year, OptionsCity has been expanding its capabilities in trading technology, and Optionshop adds another important component to our offering,” says Hazem Dawani, CEO at OptionsCity.
The firm says it is planning to utilise Optionshop’s cloud and mobile-based technology to enhance its existing trading products. In addition, Optionshop may also help OptionsCity attract a more diverse range of customers with the flexibility to offer a transaction-based fee model.