Fortis Chicago merges with O'Connor and Company
Benelux bancassurer Fortis has completed its acquisition of O’Connor and Company, the Chicago-based clearing house. The new company is called Fortis Clearing Americas and will be run within Fortis’ merchant banking division.
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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