GETCO Acquires Automat, Further Enhancing Global Market Making and Foreign Exchange Trading Capabilities

LONDON, July 14, 2011 /PRNewswire/ -- Leading global market maker GETCO today announced that it has acquired 100% ownership of Automat, a proprietary trading firm.  The terms of the transaction were not disclosed.

Based in London, Automat is authorized and regulated by the UK's Financial Services Authority (FSA) and focuses on the exchange-traded derivatives and spot foreign exchange markets.

GETCO is a market maker on more than 50 exchanges, ECNs, ATSs and MTFs in North and South America, Europe and Asia.  In Europe, GETCO Europe Limited is a full-scope MiFID investment firm that is authorized and regulated by the FSA.  

GETCO co-founder Stephen Schuler said, "Automat is well-respected both for its talented team of professionals, and its deep understanding of the financial markets. We are enthusiastic about the prospect of leveraging their capabilities across our organization as we expand our European market making and client services business."

John Williams, co-founder of Automat, said, "We are very pleased to join GETCO, a leading market maker widely recognized for its technological innovation and risk management.  We look forward to contributing to GETCO's continued growth."

GETCO is routinely one of the top 5 liquidity providers across European trading platforms and is a direct member of the following European exchanges and multilateral trading facilities: LSE, NYSE Euronext, Xetra, Borsa Italiana, Oslo Bors, Chi-x, BATS, Eurex, NYSE Liffe and MEFF.  GETCO also offers its European clients an efficient way to access the deep liquidity of its market making business through its GETMatched broker crossing offering.  

About GETCO:

GETCO is a leading global market maker. The firm's primary business involves both buying and selling securities to provide two-sided markets on exchanges around the world. The liquidity GETCO supplies allows individual and institutional investors to immediately transfer the risk often associated with securities while saving money on trading costs. In addition, GETCO provides customers with a range of execution services through its client services arm, GETCO Execution Services.

Media Contact:
Sophie Sohn; +1 312 931 2299; [email protected]

SOURCE GETCO