Virtu Financial acquires Dutch ETF market maker Nyenburgh
Virtu Financial, the electronic trading firm and market maker, has acquired Dutch ETF market maker Nyenburgh for an undisclosed amount.
Nyenburgh, known for its ETF market making activities across Europe, thereby slots into Virtue Financial’s strategic development plans including the US and Asia.
Douglas Cifu, president and COO of Virtu Financial said: “This acquisition is consistent with Virtu’s primary business objective of providing highly efficient, fully obligated, customized liquidity to investors across all markets. 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.”
Nyenburgh is a proprietary trading firm, with offices in Amsterdam, Singapore and Tallinn. It operates a so called low latency system, and is regulated by the Netherlands Authority for the Financial Markets (AFM).
Virtu Financial’s other privately held businesses include Madison Tyler, Madison Tyler Trading (MTT), Madison Tyler Energy and Commodities (MTEC), and EWT.