Agency broker AQX Securities has been acquired by UK prime brokerage firm Linear Investments.
Linear said the deal will help enhance its existing execution-only offering and broaden its asset class coverage across equities, ETFs, futures, options and fixed income.
Paul Kelly, CEO of Linear, said: Our acquisition of AQX Securities’ execution business further cements our position as the UK’s leading full-service, boutique prime broker and enhances our multi-asset execution and outsourced trading desk capabilities. AQX’s loyal customer base is a valued asset.
“By combining the two businesses our mutual clients will benefit from the competitive advantages associated with increased trading volumes and the broader umbrella services that we can now offer them all.”
AQX was acquired from Germany-based asset manager Aquila Group and has specialised in offering execution-only services and providing multi-asset commission sharing agreements.
Sam Merali, former join managing director of AQX Securities in the UK, has been appointed as head of agency brokerage at Linear Investments. Prior to joining AQX he worked in electronic execution and DMA sales at various firms including BNY Convergex, NYFIX, MF Global and EasyBroker International.