Pipeline Financial Group, a global leader in block execution systems, announced today that it has acquired the assets of 3D Markets, including the Archangel Blind-Bid Cross.
Archangel established the first block options execution system. The system eliminates information-based market impact by matching liquidity providers with institutional investors through an anonymous automated technology. As part of the transaction, the employees of 3D Markets have joined Pipeline.
"Archangel's Blind Bid Options Cross is a leader in satisfying the growing demand for block liquidity in listed equity options," said Alfred Berkeley, Chairman, Pipeline. "As a result of this acquisition, the Pipeline community will benefit from liquidity across different markets and gain safe, anonymous access to liquidity providers, if they so desire."
"Incorporating Archangel's Blind Bid Options Cross into the Pipeline lineup of block liquidity solutions is a natural fit as institutional investors seek liquidity across asset classes," said David Mortimer, Chairman and CEO of 3D Markets. "Our clients will see immediate benefits from both the synergy of the combination and from the commitment that Pipeline brings to the institutional community."