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GTS acquires Barclays’ division
Posted on Thursday, 26 March 2020 11:22
GTS has bought Barclays’ equities automated options trading business for an undisclosed sum.
The deal strengthens the acquiror’s position as the largest wholesaler market maker of over-the-counter securities.
Furthermore, the purchase is in line with GTS’ strategy to become the world’s leading trading partner of choice.
Following the acquisition, 40 Barclays personnel became full-time employees of the company.
The unit is an options market maker which is quoted in more than 735,000 individual securities across 13 global trading exchanges, comprising the options of 2,000 publicly listed businesses.
In total, the group trades around 2.0 per cent of all exchange traded equity options volume in the US.
The acquiror’s new business will be headed by Kirill Gelman, who has overseen the unit since 2008.
Ari Rubenstein, co-founder of the purchaser, said: “The data-driven, pricing precision of GTS is more important than ever in today’s unpredictable and highly volatile market environment.
“As has been reinforced during the current crisis, superior trading technology is essential to market participants and the overall functioning of our capital markets.”
Since 2016, GTS has been the largest designated market maker at the New York Stock Exchange.
The group focuses on the trading of close to 1,000 public companies which have a total market capitalisation of around USD 10,000 billion.
Its listed securities include blue chip businesses such as ExxonMobil and Ford, as well as Alibaba, Oracle and Pinterest.
GTS accounts for between 3.0 and 5.0 per cent of the daily cash equities volume in the US and trades over 30,000 different instruments globally.
According to Zephyr, the M&A database published by Bureau van Dijk, there were 237 deals targeting securities and commodities exchanges announced globally in 2019.
In the largest of these, SIX Group agreed to pick up Spain-based Bolsas y Mercados Espanoles Holding de Mercados y Sistemas Financieros for EUR 2.84 billion.
© Zephus Ltd