Getco LLC, the Chicago-based trading firm, said it acquired the New York Stock Exchange market-making business of Bank of America Corp. Terms of the purchase were not disclosed.
The combination will make Getco the second-largest designated market-maker at the New York Stock Exchange. It will handle 650 company stocks and a total of 850 securities, the company said in a news release. It will take on its new responsibilities on a rolling basis through December.
"Many companies are looking for a way to navigate today's complex marketplace and our global scale allows us to provide them with increased liquidity, better pricing and unique market insights," said Daniel Coleman, the global head of Getco's equities and client services.
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