Tidal Financial Group Acquires ZEGA's Trading Business, Doubling Team Strength

Deal News | Jan 06, 2025 | Globenewswire

Tidal Financial Group, a prominent player in the ETF sector, has acquired the trading business of ZEGA Financial. This move doubles Tidal's trading team and integrates two seasoned industry experts, Jay Pestrichelli and Scott Snyder, into its ranks. Pestrichelli, formerly CEO of ZEGA, will now serve as Tidal's Chief Trading Officer. This acquisition enhances Tidal's capabilities in complex options-based ETF trading and aligns with its goal of setting new industry standards. The integration is set to leverage ZEGA's expertise to meet the increasing demands of the ETF market, particularly in derivatives. Tidal currently manages 183 ETFs with over $29 billion in assets, maintaining its industry leadership through innovation and strategic partnerships.

Sectors

Financial Services
Exchange Traded Funds (ETF)
Derivatives Trading

Geography

United States – Both Tidal Financial Group and ZEGA Financial are based in the United States, and the acquisition pertains to the U.S. financial markets.
Global – ZEGA Financial is recognized globally for its options trading, indicating an international reach and impact of the acquisition.

Industry

Financial Services – The article focuses on Tidal Financial Group's acquisition within the financial sector, emphasizing its role in the ETF market and options trading.
Exchange Traded Funds (ETF) – The article highlights Tidal Financial Group's position and strategy within the ETF industry, particularly with the acquisition of ZEGA Financial's trading business.
Derivatives Trading – The incorporation of ZEGA's expertise in options trading is central to Tidal's strategic objectives in expanding its ETF capabilities.

Financials

$29 billion+ – Total assets under management (AUM) by Tidal Financial Group as of December 2024.

Participants

Name	Role	Type	Description
Tidal Financial Group	Acquiring Company	Company	A leading full-service ETF platform managing a range of ETFs and focusing on innovative solutions within financial markets.
ZEGA Financial	Target Company	Company	A globally recognized leader in options trading whose trading business has been acquired by Tidal Financial Group.
Jay Pestrichelli	Chief Trading Officer at Tidal	Person	Co-founder and former CEO of ZEGA Financial, bringing decades of options trading experience to Tidal.
Scott Snyder	Trade Team Member at Tidal	Person	An industry veteran with over 40 years of experience, joining Tidal's trading team after the acquisition.
Guillermo Trias	CEO of Tidal Financial Group	Person	Chief Executive Officer of Tidal, leading the strategic acquisition and integration of ZEGA's trading business.