Deals
E*Trade Plans to Sell G1X Market-Making Unit, Shares Advance
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E*Trade Financial Corp., the online brokerage with six chief executive officers since 2007, wants to sell a market-making unit that handles orders for its customers.
E*Trade plans to exit the Chicago-based business, G1 Execution Services LLC, according to its second-quarter earnings release yesterday. Chief Financial Officer Matthew Audette told analysts during a conference call that New York-based E*Trade is looking for buyers and expects to announce a divestiture within six months. The company’s shares surged 7.9 percent today, the most since August 2011, after E*Trade beat earnings estimates.