The high frequency trading powerhouse GETCO has arranged a deal to acquire Automat, a London-based derivatives and Forex.
The news is that Getco is expanding their business and getting into Forex trading, according to the Wall Street Journal.
A high frequency trader gave us his take on the news. He says, “I think they’re very equities-focused and they want to diversity into forex trading where this is more scalable volume, especially since stocks are saturated with HFT.”
GETCO already has a European arm and one in Singapore.