01.16.2018

Hudson River to Buy Sun Trading

Hudson River Trading LLC (“HRT”) and Sun Holdings LLC (“Sun Trading”) today announced that HRT has entered into a definitive agreement to acquire Chicago, IL-based market making firm Sun Trading.

“Sun Trading is a highly regarded market marking firm with an approach to trading that is
complementary to HRT’s,” said Jason Carroll, Co-Founder and Managing Director of HRT. “This acquisition combines HRT’s expertise in on-exchange trading with Sun’s expertise in off-exchange trading creating a stronger, more diverse firm. We are excited to join forces with Sun’s talented team and for HRT to become part of the Chicago trading community.”

“Hudson River Trading is a global leader in automated trading,” said Kevin Cuttica, CEO of Sun Holdings LLC, “We are excited to have found a strategic partner with a shared culture of collaboration. The combined firm will continue Sun’s focus providing meaningful liquidity to our trading partners through our US equity Single Dealer Platform, our European equity Systematic Internaliser, and an enhanced global distribution network across other market places.”Subject to final due diligence and regulatory approval, the transaction is expected to close in the first quarter of 2018.

About Hudson River Trading
Hudson River Trading (“HRT”) is a multi-asset class quantitative trading firm based in New York City. Founded in 2002, HRT develops automated trading algorithms that provide liquidity and facilitate price discovery on exchanges and alternative trading systems. With offices in New York, Austin, TX, London and Singapore, HRT trades equities, futures, options, currencies and fixed income on over 100 markets worldwide.

About Sun Trading
Sun Trading is a global market maker providing liquidity to over 115 exchanges, trading venues,and counterparties in over 15 countries. Founded by Jeff Wigley in 2003, Sun Trading has been a leading market maker in multiple asset classes, focused on liquidity provision and price improvement for investors. The firm is headquartered in Chicago with offices in London and New York.

(Visited 210 times, 1 visits today)

Related articles

  1. STA/Jones Trading - Who Begets Liquidity?
    Latest News

    The End of an Era?

    Are high-frequency traders dancing to a different tune these days?

  2. Jones Trade

    Traders on hold until major economic data can lend guidance.

  3. Contributed Content

    Speed Rules in HFT and IPL

    Indian Premier League and high-frequency trading have something in common.

  4. Hedge Funds

    CTOs Manage Tension

    Amid highly complex markets, trading technologists balance fragility and resiliency of systems - 24/7.