Overview
- Keyrock announced completion of the purchase on Thursday, acquiring BlockFills’ institutional trading and brokerage operations after a U.S. bankruptcy court approved the sale in June.
- The deal transferred customer relationships, proprietary trading technology, intellectual property and selected liabilities to Keyrock under the $3.25 million purchase terms described in bankruptcy filings.
- Several senior BlockFills executives, including derivatives traders Perry Parker and Dan Schak, are joining Keyrock to help run the integrated institutional and derivatives platform.
- Keyrock plans a phased integration that will see it communicate directly with affected clients as services are rolled into its market making, OTC and options desks.
- Regulatory clearances remain outstanding for some entities, including a CIMA-registered Cayman arm and a proposed FCA-authorised U.K. entity, and those approvals could shape the timing and conditions of full service rollouts.