WSJ: Getco In Deal For UK Forex, Derivatives Trader

WSJ: Getco In Deal For UK Forex, Derivatives Trader

  • Posted Tuesday, July 19, 2011 -
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Getco In Deal For UK Forex, Derivatives Trader DOW JONES NEWSWIRES Market-making firm Getco LLC secured an agreement to acquire Automat, a London-based trading house specialized in currency and derivatives markets, the companies said Thursday . The deal extends the reach of Getco, among the world's most active electronic trading firms, further into markets that rivals have targeted as stock-trade becomes increasingly saturated with high-frequency strategies. Terms of the deal weren't made public. "We are enthusiastic about the prospect of leveraging their capabilities across our organization as we expand our European market making and client services business," said Getco co-founder Stephen Schuler in a statement.

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