PEAK6, a financial technology business, announced that it has acquired Hardcastle Trading AG, a trading firm based in Rapperswil, Switzerland.
“We are pleased to join forces with a diversified leader in options trading. We look forward to this next step for Hardcastle, which will provide access to new markets, techniques and resources to benefit our global trading operations.”
The transaction, which closed on December 21, 2020, expands PEAK6’s proprietary trading business through the addition of proprietary trading technology and a deep bench of talented engineers. PEAK6 will leverage the Hardcastle technology platform to enhance its leading tech stack and improve liquidity for customers in the options markets.
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Founded in 1998, Hardcastle is focused on single name, upper tier equity options. The firm is known for its proprietary trading technology, which will complement PEAK6’s existing platform.
Tom Simpson, CEO of PEAK6 Capital Management, said: “We are very excited to add Hardcastle to the PEAK6 family. Hardcastle is an exceptional fit with our business and a natural pairing for us given the team’s focus on leveraging technology to make trading the way it ought to be. This acquisition is an important step in extending our PEAK6 Capital Management team’s reach by providing additional liquidity for electronic options markets in the U.S. and Europe.”
Flint Craig, CEO of Hardcastle, said: “We are pleased to join forces with a diversified leader in options trading. We look forward to this next step for Hardcastle, which will provide access to new markets, techniques and resources to benefit our global trading operations.”
