Principal trading firm DRW Holdings, which trades its own capital across a range of asset classes, instruments and strategies, is to acquire Austin, Texas-based quantitative trading firm RGM Advisors (RGM). Financial terms of the deal have not been disclosed.

“RGM is a well-known and well-respected market participant with a talented team and trading strategies that are complementary to our own,” says Don Wilson (pictured), Founder and CEO of DRW. “Bringing our companies together creates significant opportunity in equities trading, research and technology infrastructure, which will bolster liquidity and innovation in those markets. We are excited to work with the RGM team and become part of the Austin community.”
 
“DRW is an industry leader known for being on the right side of innovation in the markets,” says Richard Gorelick, Co-Founder and CEO of RGM. “Combining our firms is a natural fit that benefits our company and the markets more broadly. I am incredibly proud of what we have built over the past 16 years, and look forward to partnering with DRW.”
 
Subject to final due diligence, the transaction is expected to close at the end of September.