CHICAGO, Dec. 16, 2021 – DV Group, LLC, parent to DV Trading and DV Securities, announced today that it has signed an agreement to acquire the business of Allston Holdings LLC, parent to Allston Trading and Allston Capital. Expected to close by year-end, the transaction combines two of the nation’s preeminent proprietary trading firms, both based in Chicago. Terms of the transaction were not disclosed.
Jared Vegosen, DV co-founder, said: “We’ve enjoyed rapid expansion over the past few years by adding new markets and business lines as well as attracting many new traders. We’re thrilled to now add Allston’s premier trading and development talent to our team – and to integrate Allston’s world-class low latency systems and intuitive trading tools into our platform.”
Allston CEO Nancy Stern said: “DV is absolutely the right partner to take forward what we have built at Allston – a remarkable blend of elite talent and world-class technology. We have no doubt the combination will be a success.”
Founded by Dino Verbrugge and Vegosen, DV has offices in Chicago, New York, London and Toronto. Allston’s offices in Chicago, New York and London will be combined with DV’s offices in those locations, and Allston’s Houston office will expand DV’s presence into the energy capital of the world.
Allston trader Dimitar Popov said: “I’m extremely happy to be landing at DV. More than just having a good home to trade from, I’m energized by the prospect of teaming up with Dino and Jared to help continue DV’s strategic growth plan.”
NewLeaf Business Brokerage, LLC served as financial advisor to Allston in connection with the transaction.
About DV Trading
DV Trading and its affiliates utilize their own capital, trading strategies and risk management methodologies to provide liquidity to worldwide financial markets and hedging opportunities that spur the global economy. Since spinning out of a large futures brokerage and clearing firm in 2016, DV has grown rapidly over the past five years, now with more than 300 personnel globally. Expansion efforts since the spin-out have included: the launch of DV Chain, LLC, which introduced a platform providing liquidity and market making services for cryptocurrencies; the acquisition and expansion of Independent Trading Group (ITG), Inc., a Canadian proprietary trading and market making brokerage firm based in Toronto, and regulated by the Investment Industry Regulatory Organization of Canada (IIROC); and, most recently, the establishment of DV Securities, LLC, an SEC registered broker-dealer that was approved earlier this year by the Fixed Income Clearing Corporation (FICC) as a Netting Member. For more information, please visit https://www.dvtrading.co/.
Headquartered in Chicago, Allston Holdings is parent to Allston Trading and Allston Capital, one of the nation’s premier proprietary electronic trading firms. Allston has offices in New York, Houston and London and more than 80 personnel globally. For more information, please visit www.allstontrading.com.