17 October 2017

High speed trader Getco takes up new position on Nyse trading floor

12 February 2010  |  5671 views  |  0 CBOT trader

High speed trading firm Getco is set to go back to the future by taking up a position on the floor of the New York Stock Exchange as a designated market maker (DMM).

The Chicago-based global electronic trading and technology firm has purchased approximately 350 Nyse DMM assignments from Barclays Capital. It joins a dwindling but elite band of five top trading firms with an obligation to provide liquidity in Nyse stocks and maintain a physical presence on the floor of the US exchange.

The privately-held firm is already a registered market maker on the Nasdaq and Bats exchanges; and is among the top five participants by volume on Nyse Arca, Nyse Arca Options, Nyse Liffe US , CME, Eurex, and various other equities, futures and options markets.

Lawrence Leibowitz, Nyse Euronext chief operating officer, billed the move as an endorsement for the firm's hybrid market model and the centrality of the trading floor. "Having Getco become a designated market maker in Nyse-listed issues and in our upcoming trading of Nasdaq issues on the NYSE Amex platform clearly reflects a vote of confidence in the value of our market model for our issuer, investor and trader communities."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nyse abolishes specialists as Bats circles

Nyse abolishes specialists as Bats circles

27 October 2008  |  12300 views  |  0 comments
Bank of America lays off more Nyse floor staff

Bank of America lays off more Nyse floor staff

15 February 2007  |  6664 views  |  0 comments
Van der Moolen cuts 30% of US jobs as Nyse moves to hybrid model

Van der Moolen cuts 30% of US jobs as Nyse moves to hybrid model

23 January 2007  |  5169 views  |  0 comments
Nyse cuts 520 jobs

Nyse cuts 520 jobs

08 November 2006  |  6100 views  |  0 comments
Nyse to shutter trading floor

Nyse to shutter trading floor

01 November 2006  |  6797 views  |  0 comments
Van der Moolen to adopt hybrid model; cut US trading staff

Van der Moolen to adopt hybrid model; cut US trading staff

06 October 2006  |  6242 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.vasco.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14389 views comments | 11 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13045 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
8948 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
7881 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7588 views comments | 13 tweets | 13 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job