GTS, an electronic market maker, made a significant move by announcing the successful acquisition of the foreign exchange trading assets of HC Technologies, a well-established algorithmic trading firm. This strategic acquisition solidifies GTS's position in the financial industry.
GTS Ventures into the Competitive World of Forex Trading
HC Technologies has been ranked as the number-one foreign exchange liquidity provider in the Americas on two occasions. This acquisition signifies a pivotal moment in GTS's growth, as it leverages HC Tech's expertise to expand its reach in the highly competitive world of Forex trading.
GTS has been a market participant in various financial sectors. These include trading global equities, OTC stocks, futures, options, fixed income, and ETFs. With the addition of HC Tech's assets and the infusion of its talented workforce, GTS is poised to make a significant impact on the FX market.
“Enhanced liquidity through sophisticated, real-time pricing across asset classes and geographies is a hallmark of GTS’s market making activities,” said Ari Rubenstein, the Co-Founder and CEO of GTS. “This acquisition allows us to bring pinpoint pricing to the volatile FX marketplace – pricing that GTS excels in.”
He continued: “The FX marketplace is growing rapidly and is an important component of the global financial ecosystem. The recent geopolitical and global economic turmoil has created a huge surge in foreign exchange and interest rate volatility, creating the need for marquee FX market making and pricing.”
“HC Tech has built a world-class FX business and combining those trading assets with GTS’s capabilities will be immediately additive to the FX trading marketplace.”
GTS Poised for Success with HC Tech's Forex Trading Assets
Approximately 50 skilled employees from HC Technologies will become part of the GTS family. With this addition, GTS's total headcount is set to approach the 400-employee mark. This reinforces its commitment to remain at the forefront of financial innovation.
Having originated as a quantitative trading firm, GTS continually invests in technology to prepare for the future. Thus, it allows the GTS group of companies to attach the latest in artificial intelligence systems and sophisticated pricing models. These tools provide consistency, efficiency, and transparency to modern financial markets.
GTS Securities, GTS's electronic market-making division, commands a substantial share of the daily cash equities volume in the United States, ranging from 3% to 5%. GTS Securities holds the position of being a leading Designated Market Maker (DMM) at the New York Stock Exchange. It is responsible for facilitating trading in securities that collectively account for nearly $13 trillion in market capitalization.
To oversee the combined FX business resulting from this acquisition, GTS has appointed HC Tech Partner, Cary Rosenwald. He has been involved in developing cutting-edge technology and assembling a highly skilled team of FX experts, many of whom will transition to GTS as part of this acquisition.
Rosenwald said: “We couldn’t be more excited to be part of the stellar GTS team. We’re not only joining a top global market maker but a firm with global status as a steward of the market with a broad track record of success and making value-adding acquisitions. FX trading worldwide has grown significantly in recent years and the combined business is poised to take off.”
According to market research conducted by the Bank for International Settlements, the foreign exchange market boasts average daily trading volumes exceeding an astonishing $7 trillion. With the acquisition of HC Tech's forex trading assets and the infusion of talent, GTS is poised to capitalize on the immense opportunities within this dynamic and ever-evolving market.
