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Virtu Financial acquires NYSE AMEX DMM unit

Cohen Capital Group’s NYSE Amex Designated Market Maker (DMM) business has been acquired by Virtu Financial making it the largest DMM by number of assignments on the NYSE Amex.

The acquisition also marks Virtu’s entry as a registered floor-based market maker at NYSE and NYSE Amex, which are wholly owned subsidiaries of NYSE Euronext (NYX) and responsibilities for its new DMM assignments will be assumed immediately.

The terms of the deal were not disclosed, however, Virtu will act as the DMM for about 170 companies and 80 closed-end funds, for a total of about 250 listed securities at the NYSE Amex.

Virtu Financial Chairman and CEO Vincent Viola said that this acquisition is consistent with Virtu’s primary business objective of providing highly efficient, fully obligated, customized liquidity to investors across all markets."

Currently, the firm is a Supplemental Liquidity Provider (SLP) on the NYSE, a Lead Market Maker on the NYSE Arca and a liquidity provider on more than 100 exchanges and trading venues worldwide.