CHICAGO, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Tidal Financial Group (“Tidal”), an industry-leading, award-winning, full-service ETF platform, is thrilled to announce the acquisition of ZEGA Financial’s (“ZEGA”) trading business, a globally recognized leader in options trading. This strategic acquisition reinforces Tidal’s position as the ETF Masters, further cementing its leadership in the ETF industry and creating one of the most formidable trading offerings in the financial sector.
The acquisition doubles Tidal’s trading team and integrates industry veterans Jay Pestrichelli and Scott Snyder, who collectively bring over 70 years of options trading experience. Pestrichelli, co-founder and CEO of ZEGA, will assume the role of Chief Trading Officer at Tidal, while Snyder, with over four decades of experience, joins the trading team, further bolstering Tidal’s capabilities in delivering complex, derivatives-based ETF structures.
“This acquisition marks a transformative moment for Tidal Financial Group,” said Guillermo Trias, CEO of Tidal. “ZEGA Financial’s trading business is renowned for its deep knowledge in options trading, making it an ideal partner for our vision of redefining ETF innovation. Together, we’re creating a deeply experienced ETF trading team, perfectly positioned to meet the growing demands of the market while continuing to deliver enhanced value to our clients.”
Jay Pestrichelli, a seasoned financial leader with over 30 years of industry experience, brings a wealth of knowledge to his new role as Chief Trading Officer at Tidal. Prior to founding ZEGA, he led the online brokerage business for TD Ameritrade, helping transform it into a leading U.S. broker by trade volume. He is also the co-author of the bestselling book Buy and Hedge: The Five Iron Rules for Investing Over the Long Term, which simplifies options investing for everyday investors.
“Joining forces with Tidal is an incredible milestone for ZEGA and me personally,” said Pestrichelli. “Tidal’s vision, resources, and leadership in the ETF industry make this partnership an exciting opportunity to drive innovation and redefine ETF trading. The integration of ZEGA’s trading business into Tidal empowers us to deliver exceptional results for our clients and set new industry standards.”
The acquisition positions Tidal to capitalize on the rapid growth of ETFs, particularly in complex, derivatives-based strategies. With the addition of ZEGA’s specialized trading team, Tidal enhances its ability to execute seamlessly while driving innovation in ETF trading and capital markets. The integration ensures uninterrupted services for clients, who will continue to benefit from the same exceptional support they have come to rely on from both firms.
“Our mission has always been to deliver exceptional solutions to our clients,” added Trias. “By integrating ZEGA Financial’s trading business and leveraging Jay’s leadership, we’re doubling down on our commitment to innovation and building a team that will define the future of ETF trading.”
By combining decades of experience from Tidal and ZEGA’s trading business, the expanded team is well-positioned to meet the evolving needs of financial services clients and the growing ETF market. This acquisition underscores Tidal’s dedication to maintaining its leadership in the industry and driving innovation for years to come.
About Tidal Financial Group
Tidal, an award-winning, full-service ETF platform, manages 183 ETFs in partnership with 68 issuers and oversees $29bn+ in assets under management (AUM) as of 12/17/2024. With a focus on empowering asset managers, Tidal delivers innovative solutions designed to drive growth and success.
About ZEGA Financial, LLC
ZEGA Financial specializes in derivatives-based strategies, offering innovative investment solutions that seek to help clients achieve their financial goals. ZEGA’s experience in risk-managed trading and options strategies is widely recognized across the industry.
