"We are thrilled to fully join the BlackRock team, and to broaden access to SpiderRock Advisors' options management solutions for both taxable and tax-exempt investors," said Eric Metz, President and Chief Investment Officer of SpiderRock Advisors. "Innovative advisors and investors understand the value of options in their portfolios to better manage risk as we navigate a challenging capital markets landscape. We look forward to benefiting from BlackRock's global reach and deep industry relationships as we seek to help more advisors deliver tailored options strategies to empower their clients towards achieving their after-tax investment goals." The transaction, expected to close in Q2 2024, is subject to customary closing conditions. The financial impact of the transaction is not material to BlackRock earnings. Financial terms were not disclosed. Jones Day acted as legal counsel for SpiderRock Advisors, LLC.