Deals
Market Maker GTS Buys Foreign-Exchange Trading Unit From HC Tech
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Electronic market maker GTS is expanding its presence in foreign exchange through a deal with algorithmic trading firm HC Technologies.
GTS acquired HC Tech’s foreign-exchange trading assets this month, according to people with knowledge of the matter who asked not to be identified discussing a private matter. As part of the transaction, about 50 HC Tech workers will join GTS, increasing the size of the New York-based firm to almost 400 employees, the people said. The value of the transaction couldn’t immediately be learned.