CHICAGO, Jan. 20 /PRNewswire/ -- The merger of Fox River Partners LLC, of Chicago, with Infinium Capital Management, Chicago, was announced jointly today by the firms.
The consolidation will combine one of the leading private global trading houses handling a vast range of derivatives with one of the foremost traders specializing in the equity options market –a rare mixture of capabilities.
Charles Whitman, Infinium managing partner, and Joseph Ritchie, one of the two major selling shareholders of Fox River, said the blending of the two organizations would round out a combined capability to trade in most of the world's derivatives and options.
Under terms of the deal, Ritchie and Scott Rose, the other major selling shareholder of Fox River, will receive an undisclosed amount of money plus future consideration. Scott Rose will assume a senior role in the management of trading operations at Infinium. Most Fox River employees will immediately move into the Infinium facilities at 600 W. Chicago Ave.
"One of the many synergies offered by this combination is the marriage of the unique strengths of our organizations," said Infinium senior partner and technology director Brian Johnson. "Without any interruption, we will begin to leverage each of these strengths over the next few weeks."
Founded by Ritchie and Rose in 2007, Fox River has emerged as one of the new leading firms specializing in the high volume trading and market making of put and call options on a wide range of securities. The merger meets an opportunity in which the equity options market set a new annual trading volume record for 2009, according to last week's report of the Options Clearing Corp. A total of 3.6 billion contracts were exchanged, with both professional and non professional investors seeking to protect portfolios against declines and to maximize gains.
Infinium, founded in Chicago in 2003, has grown rapidly to embrace high volume electronic trading and market making in derivatives, metals, grains, energies, financial instruments and other products. Its staff of over 250 employees is now expanding its reach into Asian and Pacific Rim commodities markets as well.
SOURCE Infinium Capital Management