CHICAGO (AP) — Futures and options broker MF Global Holdings Ltd. said Monday that it has acquired Strategy Runner Trading Ltd., a privately held company with an electronic trading platform.
MF Global paid $3.75 million for the Chicago-based company.
The acquisition advances MF Global's strategy to build a multi-asset, multi-currency electronic trading platform to meet demand among retail investors and professional traders who want global market access from a single point of entry, the company said.
Strategy Runner's platform currently offers trading in futures, foreign exchange and contracts-for-difference markets around the world. MF Global intends to expand these services over time.
"Through the strategic addition of Strategy Runner, we will work to build an enhanced platform for clients to execute unique, automated trading strategies across multiple asset classes," said Randy MacDonald, global head of Retail Services for MF Global, in a statement.
Shares of Hamilton, Bermuda-based MF Global fell 23 cents, or 5.8 percent, to $3.73 in afternoon trading. They've traded between $3.68 and $9.28 in the past 52 weeks.
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