London-based multi-asset execution, clearing and liquidity provider Sucden Financial revealed on Thursday it has purchased Atlantic Trading London Limited, a proprietary market-making derivative trading company.
Sucden Financial confirmed it has acquired the trading, IT and IP assets, however more details of the deal have not been disclosed.
Headquartered in London, Atlantic Trading acts as a liquidity provider and market maker on the interest rate and bond options, focusing on European and select US interest rate markets.
Marc Bailey, Chief Executive Officer at Sucden Financial, said:
We are delighted to have completed this transaction and welcome the team of skilled traders and IT professionals to Sucden Financial. They will add a new interest rates and bonds capability and complement our existing LME and FX options coverage.
Under the acquisition deal, four staff members of Atlantic Trading will join Sucden Financial. The staff members are Fraser Dodwell, Amik Sokhey, Douglas Porter and Bastien Saltel.
Additionally, Sucden Financial revealed that it has decided to officially request market maker status on ICE Futures Europe. The company announced that it wants to offer market-making services on STIR contracts from September 2022.
Earlier in May, Sucden Financial reported it had seen 1,025% jump in profit before tax in 2021.