- New York-based Hudson River Trading is set to acquire Chicago rival Sun Trading, the two companies announced Tuesday.
- Consolidation is a trend in the trading industry amid low volatility and a lack of profit opportunities.
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2 of the biggest high-speed trading firms are joining forces in a deal that's a 'sign of the times'
Hudson River Trading is set to acquire Chicago rival Sun Trading, the two companies announced Tuesday.
The merger, according to the statement, is pending regulatory approval and is set to close this quarter.
Richard
"With the record low volatility, HFT firms are seeking scale benefits and the resultant efficiencies to drive their businesses," he said in an email.
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