GTS, a designated market maker at the New York Stock Exchange, closed its acquisition of Cantor Fitzgerald LP's automated exchange-traded funds and wholesale over-the-counter market-making businesses.
Terms of the deal were not disclosed.
As part of the transaction, 30 Cantor employees moved to GTS as full-time employees. Reginald Browne leads the ETF business along with Eric Lichtenstein and Darren Taube. Joe Pleffner, Mike Strashnov and Menash Cohen will oversee the wholesale OTC market-making business.
Cantor will continue to act as a counterparty in ETFs in partnership with GTS.