Virtu Financial Acquires Dutch ETF Market Maker
Virtu Financial (“Virtu”) has today acquired the European ETF Market Maker assets of Nyenburgh Holding B.V. (“Nyenburgh” or the “Company”). Terms of the transaction were not disclosed. Barclays Bank PLC, acting through its investment bank (“Barclays”), acted as sole financial adviser to Nyenburgh in connection with the transaction.
Nyenburgh is recognized as a leading ETF market maker across Europe. The Company has years of established relationships with ETF sponsors and primary European exchanges. With the acquisition of Nyenburgh’s ETF market making business, Virtu continues its expansion into formalized, regulated market making business across the US, Europe and Asia.
“This acquisition is consistent with Virtu’s primary business objective of providing highly efficient, fully obligated, customized liquidity to investors across all markets,” said Douglas Cifu, President and COO of Virtu Financial, LLC. “Nyenburgh is a very well established company with a wealth of expertise in the ETF market making space and the transaction is consistent with our goal of becoming the leading provider of liquidity in the European ETF market making space.”
“We are excited about joining the Virtu family,” said Bart Lijnse, Managing Director at Nyenburgh. “Vincent Viola has been one of the pioneers in electronic trading, and with Virtu, he and his management team have built a company that is a leading provider of liquidity across most major asset-classes traded around the globe.”
Nyenburgh currently acts as official market maker for multiple ETF issuers and provides liquidity to many brokers and professional investors across Europe. Virtu is a registered investment firm and maintains direct membership in most European exchanges and multilateral trading facilities including LSE, NYSE Euronext, NASDAQ OMX, Xetra, SIX Swiss, Borsa Italiana, BATS/Chi-X Europe, Turquoise, Eurex, and NYSE Liffe and is considered a top ranked liquidity provider on most.
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