NEW YORK, Oct. 2, 2017 /PRNewswire/ -- Two Sigma Securities, LLC (TSS), the market-marking affiliate of Two Sigma Investments, LP, announced today the closing of its acquisition of the U.S. options market-making business of Interactive Brokers Group, Inc. (NASDAQ GS: IBKR), which has been conducted by its Timber Hill affiliate. In completing the acquisition, TSS assumes approximately 1,300 exchange specialist assignments previously operated by Timber Hill.
TSS is committed to making markets more efficient through systematic precision and scientific rigor. The addition of Timber Hill's forty years of experience in options market-marking aligns with TSS's strategy to deliver market-leading technology and expertise to clients and exchanges. TSS plans to offer its broker-dealer clients access to listed options across all U.S. exchanges, on top of our existing offering of over 8,000 U.S. exchange-listed equities in 2018.
Simon Yates, CEO of TSS, said, "The Timber Hill and TSS teams have done a great job working together to integrate the trading system in a short period of time. We're delighted now to bring the Timber Hill team onboard to TSS and look forward to bringing the expanded footprint and offering to our clients."
The team joining TSS from Timber Hill will be spread across locations in Chicago and Connecticut, with additional trading personnel working alongside and helping to augment the TSS team in New York City.
Sandler O'Neill + Partners, L.P. acted as financial advisor and Sidley Austin LLP provided legal advice to Two Sigma. Interactive Brokers was advised by Dechert LLP.
Two Sigma Securities, LLC
Two Sigma Securities, LLC is a broker-dealer registered with the SEC, a member of the major U.S. equity exchanges and a registered market maker in over 8,000 U.S. exchange listed equities. Backed by a high-performance, proprietary platform, the firm facilitates the execution of more than 300 million shares per day. Two Sigma Securities, LLC is the market-making affiliate of Two Sigma Investments, LP and is a member of FINRA and SIPC.
Interactive Brokers Group, Inc.
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 120 markets in numerous countries and currencies from a single IB Universal Account SM to customers worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our customers with a uniquely sophisticated platform to manage their investment portfolios at the lowest cost according to Barron's Best Online Brokers review, March 20, 2017. We strive to provide our customers with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low prices, positioning them to achieve superior returns on investments.
Two Sigma Securities Media Contact:
Kelly M. Howard
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SOURCE Two Sigma Securities, LLC