News

In the News: Chopper Trading brought together with DRW

Combination will allow for increased efficiencies and provision of liquidity in global markets

DRW and Chopper Trading announced DRW has agreed in principle to acquire the assets of Chopper. Financial terms of the transaction were not disclosed.

Chopper Trading, a proprietary trading firm headquartered in Chicago, was founded in 2002 by Raj Fernando. It operates as a proprietary trading firm trading futures and fixed income securities on major international exchanges.

Don Wilson, founder and chief executive officer of DRW, said: “Chopper Trading is a highly-respected and successful participant in the industry. They have amassed a talented team and operate trading strategies that are complementary to DRW’s. Bringing our two organizations together will allow us to more efficiently provide liquidity to the financial markets. We are excited to join forces and look forward to working together.”

“DRW is an industry leader with a track record of innovation and growth,” said Raj Fernando, chief executive officer of Chopper Trading. “Combining our two firms is a perfect fit that benefits our company and also the broader marketplace. I am proud of what we have built and I look forward to the synergy this will create.”

Read more in the Financial Times.