Ballista To Spend On Tech, Client Services
June 10, 2009
Ballista Holdings, owner of Ballista Securities LLC, received a $15 million minority investment from the International Securities Exchange (ISE), Knight Capital Group, Morgan Stanley, Susquehanna Growth Equity, and existing investors, including Metropolitan Equity Partners. The investment will be used to support continued technology innovation, enhanced client service and a more aggressive sales and marketing effort to further develop its liquidity pool, the company said.
Ballista Securities is the operator of the Ballista alternative trading system (ATS) for block trading of options, delta-neutral strategies and other complex options transactions. Ballista ATS began live trading on October 28, 2008, with aggregate volume surpassing 1 million contracts traded in March 2009.
"Ballista ATS has experienced consistent growth since our launch in late 2008," said Robert Newhouse, founder and CEO of Ballista Securities. "The investment from such a distinguished and diverse group of industry leaders will provide Ballista a strong base of strategic resources in the quest to become the premier destination for institutional block trading of equity options and volatility."
As part of the investment, one representative from each of the four new investors will join the company's board.
