Canaccord Genuity Group Inc. acquires Jitneytrade and its related technology business Finlogik
June 06, 2018
On June 6, 2018, Canaccord Genuity Group Inc. ("Canaccord") completed the acquisition of Jitneytrade Inc. and Finlogik Inc. directly and through the purchase of Finlogik Capital Inc. This acquisition will support Canaccord's mid-market growth strategy by providing access to new areas of growth and aid in the potential future development of discount brokerage and robo-advisory offerings to support Canaccord's rapidly growing wealth management division.
Canaccord is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets.
Jitneytrade Inc. is a direct access broker, the largest trader of futures and an active trader in equity options on the Montréal Exchange, with a diverse customer base that includes discount brokerage clients, sophisticated trading groups and leading institutions in Canada and internationally. Finlogik designs and manages cloud-based investment solutions, and delivers value-added fintech solutions in the Canadian market.
McCarthy Tétrault LLP advised Canaccord with a team led by Clemens Mayr that included Sonia Struthers, Laure Fouin and Jessica Rousseau (Business), Christian Meighen and Angelo Discepola (Tax).