E*Trade enters UK market-making arena

E*Trade enters UK market-making arena

E*Trade Institutional Securities is establishing a market-making service for UK growth stocks with further plans to expand into Europe.

The company has acquired an established market-making team from Nomura International with nearly 30 years collective experience. E*Trade will also lean on the experience gained following its acquisition last year of Dempsey, one of the top ten Nasdaq market-makers.

The UK service will specialise in growth sectors and will be rolled out to cover selected European sectors. Initially, the service will be available to the company's 650 global institutional clients with plans to integrate into its retail brokerage service providing direct trading access to UK retail investors.

Jarrett Lilien, chief brokerage officer and managing director of Asia-Pacific and Latin America, E*Trade Group, comments: "In addition to market-making, we have recently provided institutional clients electronic direct access trading on the global markets and launched our proprietary institutional Web site."

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