Fortis Chicago merges with O'Connor and Company

The acquisition more than triples Fortis’ size and presence in the Chicago market, enabling it to offer US cash equities and equity derivatives. Former O’Connor and Company chief executive, William Floersch, will head the combined firm, and Fortis Clearing’s former chief executive, Russell Levens, becomes chief commerical officer.

Fortis Clearing Americas is now one of the largest independent third-party clearers in Europe, Asia and America. In addition to Chicago, Fortis Clearing has offices in most major cities and general clearing memberships at 21 exchanges.

Fortis Clearing Chicago commenced operations in the US during 2001. O’Connor and Company, founded by two pioneers of the Chicago Board Options Exchange, had been operating in the market for 47 years.

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