Business
Canaccord Genuity Group Inc. Announces Proposed Acquisition of Jitneytrade and its Related Technology Business Finlogik
Canaccord Genuity Group Inc. Announces Proposed Acquisition of Jitneytrade and its Related...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces Proposed Acquisition of Jitneytrade and its Related Technology Business Finlogik\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 25, 2018\n\n\n\nAgreement strengthens Canaccord Genuity's market share as the leading independent trader in Canada and leverages its existing back-office infrastructure to aid in the development of fintech solutions to support its capital markets and wealth management divisions\n\n\n\nTORONTO, April 25, 2018 /CNW/ - Canaccord Genuity Group Inc. (the \"Company\"), is pleased to announce that it has entered into an agreement to acquire Jitneytrade Inc. and Finlogik Inc. directly and through the purchase of Finlogik Capital Inc. This development serves to support Canaccord Genuity's mid-market growth strategy by enhancing its market share of equities trading and providing access to new areas of growth through accelerating its development of an enhanced fintech product offering. \n\n\n \n \n\n \nUpon closing, the firm's clients will benefit from an expanded product offering which will include futures, options and low latency trading capabilities. This addition also brings deep technological expertise, leverages the firm's existing infrastructure and can aid in the potential future development of discount brokerage and robo-advisory offerings to support the Company's rapidly growing wealth management division. \n\n\"Jitneytrade and Finlogik offer a range of technological capabilities that create a compelling opportunity to accelerate revenue growth in our business and add key service offerings, as we continue to meet the evolving needs of our institutional and wealth management clients,\" said Dvai Ghose, Head of Strategic Development for Canaccord Genuity Group Inc. \"We expect that the differentiated and highly scalable Jitneytrade platform for options and futures trading will benefit our existing clients through an enhanced product and service offering.\"\n\n\"On behalf of the partners of Jitneytrade and Finlogik, we are excited ...