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Hudson River Trading to Buy Sun Trading

Traders Magazine Online News, January 22, 2018

John D'Antona Jr.

Hudson River Trading LLC (“HRT”) and Sun Holdings LLC (“Sun Trading”) announced that HRT has entered into a definitive agreement to acquire Chicago, IL-based market making firm Sun Trading.

“Sun Trading is a highly regarded market marking firm with an approach to trading that is complementary to HRT’s,” said Jason Carroll, Co-Founder and Managing Director of HRT. “This acquisition combines HRT’s expertise in on-exchange trading with Sun’s expertise in off-exchange trading creating a stronger, more diverse firm. We are excited to join forces with Sun’s talented team and for HRT to become part of the Chicago trading community.”

“Hudson River Trading is a global leader in automated trading,” said Kevin Cuttica, CEO of Sun Holdings LLC, “We are excited to have found a strategic partner with a shared culture of collaboration. The combined firm will continue Sun’s focus providing meaningful liquidity to our trading partners through our US equity Single Dealer Platform, our European equity Systematic Internaliser, and an enhanced global distribution network across other market places.”Subject to final due diligence and regulatory approval, the transaction is expected to close in the first quarter of 2018.

About Hudson River Trading

Hudson River Trading (“HRT”) is a multi-asset class quantitative trading firm based in New York City. Founded in 2002, HRT develops automated trading algorithms that provide liquidity and facilitate price discovery on exchanges and alternative trading systems. With offices in New York, Austin, TX, London and Singapore, HRT trades equities, futures, options, currencies and fixed income on over 100 markets worldwide.

About Sun Trading

Sun Trading is a global market maker providing liquidity to over 115 exchanges, trading venues,and counterparties in over 15 countries. Founded by Jeff Wigley in 2003, Sun Trading has been a leading market maker in multiple asset classes, focused on liquidity provision and price improvement for investors. The firm is headquartered in Chicago with offices in London and New York.

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