NinjaTrader Group, LLC, a provider of trading software and brokerage services to active traders, reveals that it has acquired Tradovate Holdings, LLC, an online futures brokerage company and trading tech provider, for $115 million.
Established in 2003, NinjaTrader is a retail futures broker supporting more than 500,000 traders with advanced trading software, brokerage services, multilingual support, and educational programs and resources. Tradovate, founded in 2016 by industry veteran Rick Tomsic, pioneered a cloud-powered trading infrastructure and pricing model for futures which helped promote the transformation of the brokerage landscape.
The acquisition creates a powerful retail futures brokers platform with combined trading volume in 2021 of “approximately 100 million futures contracts.”
Martin Franchi, CEO of NinjaTrader Group, LLC, stated:
“NinjaTrader’s and Tradovate’s shared vision to transform retail futures is at the heart of this transaction and will accelerate our goal to make futures more accessible, mainstream and modern. The combination of the largest and fastest-growing market leaders and our commitment to continued investment in the businesses will unlock innovation and scale, which will ensure we rise to meet the growing demand of the trading community for innovative products and services. Together we look forward to continued advocacy and support of the rapidly expanding retail futures community.”
Tomsic will reportedly join NinjaTrader’s Executive Team as its Chief Strategy Officer and will be expected to play a key role in “defining the strategy and vision for continued transformation of the futures industry.” He will also “serve on NinjaTrader’s Board of Directors.”
“We’re extremely proud of the role Tradovate has played in offering self-directed futures traders a truly different choice, with robust, easy-to-use cloud-based trading technology designed specifically for their needs and a pricing model unlike any previously seen in the futures industry. This acquisition is the culmination of that effort but only the beginning of the story as we leverage our combined technology, vision and talented teams to take new and experienced traders to the next level of client experience.”
NinjaTrader was “advised by Long Ridge Equity Partners, Choate Hall and Stewart LLP, D.A. Davidson & Co.” Tradovate was “advised by Sidley Austin.”