Andover Taken Over

Discussion in 'Prop Firms' started by bigbear, Mar 6, 2003.

  1. bigbear


    any news on this takeover by SDS would be appreciated.


    The deal closed on Friday.
  3. was it bought as an individual transaction on purpose or did they get it as part of a larger deal ?
  4. I will be glad to answer any questions. The impact on the San Diego office has been nothing but positive except for the minor paperwork hassle on the transition....

    I will be glad to answer any questions regarding the deal. If anything, it has brought us more traders here in SD because of the reputation of Sunguard.

    Contrary to any of Bright's beliefs, Andover is stronger than ever.

    Please feel free to ask any questions you may have.

  5. Why do other think that this is a negative impact? and can you tell me the impact for Sunguard? thanks
  6. No, from the meeting in New York that I attended with the Sunguard Group CEO, they acquired Andover as a profitable entity that would add to Sunguard's portfolio.
  7. I posted that it "was nothing but positive". I do not know of any negatives.

    I left the NYC meeting with Sunguard pumped up and excited.

    I think there is a lot of misinformation posted by competing firms.

    Fire away and I will tell you what I know from the meeting in NYC with the Sunguard Group CEO.
  8. bigbear


    do they intend to keep the same capital policies in place? Is there a minimum of capital required to get into Andover? Is Sunguard going to change that?

    Do they have an interest in the Hammer Application?

  9. Is SDS going to maintain the retail and prop operations or are they going to spin those off to another entity?

    I would presume that SDS wanted the clearing operations and Hammer, yes?

    Dr. Zhivodka
  10. #10     Mar 6, 2003