Argentum Portfolio Company Hanweck Associates is acquired by Cboe Global Markets
New York, NY – February 11, 2020 – Argentum, a New York-based private equity firm, announced today that one of its portfolio companies, Hanweck Associates, a real-time risk analytics company, has been acquired by Cboe Global Markets, Inc. (Cboe: CBOE), one of the world’s largest exchange holding companies.
Hanweck delivers real-time risk and margin analytics on global derivatives markets, bringing visibility and clarity to capital and balance sheet constraints to banks, broker/dealers, hedge funds, central counterparties and exchanges. Hanweck is expected to help Cboe clients better understand how their balance sheet is optimized through real-time margin calculations of non-linear instruments and analytics that optimize portfolio allocations and hedges.
“Since 2006, Hanweck has been at the forefront of quant finance and technology innovation in the derivatives markets. Our services enable our clients to improve their trading risk management decisions by integrating high-quality, real-time financial analytics into their workflow,” said Gerald Hanweck, Jr., PhD, Founder and former CEO of Hanweck.
Argentum became the lead private equity investor in Hanweck in 2015, and since has worked closely with management and the Board to guide and support the growth of the company. “It’s been a pleasure working with Jerry Hanweck and Mike Hollingsworth, and the entire Hanweck team. They have built a world-class analytics platform that helps financial firms better manage their trading risks,” said Walter Barandiaran, Co-Founder and Managing Partner of Argentum, and a former Hanweck Board member. “Hanweck aligned perfectly with Argentum’s investment focus and strategy, representing a capital efficient, bootstrapped FinTech company delivering best-in-class real-time analytics on global derivatives markets,” said Mr. Barandiaran.
“Argentum’s advice and counsel as an investor and board member was immensely helpful to us as founders and managers. Walter and his team’s guidance through the most difficult stage of growth for a small company enabled us to achieve an exciting outcome,” said Mr. Hanweck.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE) is one of the world’s largest exchange holding companies, offering cutting-edge trading and investment solutions to investors around the world. The company is committed to defining markets to benefit its participants and drive the global marketplace forward through product innovation, leading edge technology and seamless trading solutions.
The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and volatility products based on the Cboe Volatility Index (VIX Index), recognized as the world’s premier gauge of U.S. equity market volatility.
Cboe’s subsidiaries include the largest options exchange and the third largest stock exchange operator in the U.S. In addition, the company operates one of the largest stock exchanges by value traded in Europe and is a leading market globally for ETP listings and trading.
The company is headquartered in Chicago with a network of domestic and global offices across the Americas, Europe and Asia, including main hubs in New York, London, Kansas City and Amsterdam. For more information, visit www.cboe.com
Argentum is a New York-based growth equity firm that partners with entrepreneurial owners to build industry-leading B2B software, technology-enabled and business services companies. The firm invests in companies with revenues of $5 million to $25 million, providing capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Over its 25+ year history, Argentum has invested in 85 companies and supported nearly 200 add-on acquisitions. Argentum fills the growing gap between early stage venture capital investors and later stage growth equity firms by targeting bootstrapped companies seeking $5 million to $15 million of capital. For more information, visit www.argentumgroup.com