CBOE Holdings, Inc. (NASDAQ: CBOE), the holding company for Chicago Board Options Exchange (CBOE), the CBOE Futures Exchange (CFE) and other subsidiaries, plans to invest in Tradelegs, a New York, NY-based developer of advanced decision-support software for institutional investors to optimize investment performance.
The investment – whose amount was not disclosed, allows the company to further expand its options optimization services, including the capability to cover portfolios of securities.
Led by Gideon Agar, CEO, Tradelegs’ analytics platform allows hedge funds, mutual funds, pension funds and insurance firms to enter their views on given securities. The software then calculates the result of numerous combinations of options/underlying positions that correspond to the user’s parameters including maximum capital available, worst-case risk and probability of price movements and identifies the potential trade or trades incorporating those parameters.
The investment is subject to the execution and delivery of a definitive agreement between CBOE and Tradelegs.
FinSMEs
12/03/2014