Getco Buys BofA's NYSE DMM Business
Electronic market maker Getco has acquired Bank of America Merrill Lynch's New York Stock Exchange (NYSE) designated market maker (DMM) business. The purchase of Banc of America Specialists expands Getco's existing market-making services and responsibilities at NYSE.
As a result of the acquisition, Getco will be the DMM for approximately 650 companies and a total of 850 securities at NYSE, making the firm the second-largest DMM by number of DMM assignments.
"NYSE has brought the floor model into
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