Group Co.
Barclays in Talks to Sell Automated Options Business to GTS
Traders Magazine Online News, September 10, 2019
It looks like Barclays might be getting out of the automated options business.
As first reported in Bloomberg, electronic market maker GTS, is in advanced negotiations to purchase the group. However, there’s no assurance a deal will be struck, according to people familiar with the matter who asked not to be identified discussing private talks. Barclays representatives and a GTS spokesman declined to comment.
Known internally as Automated Volatility Trading, the business buys and sells options to offer liquidity in that market. Its technology and equities heritage make it a natural fit for GTS, which has become one of the largest market makers at the New York Stock Exchange. Automated Volatility Trading is led by Kirill Gelman, who joined Barclays when the bank bought parts of his former employer, Lehman Brothers. The proposed deal follows calls from activist investor Edward Bramson to shrink risky parts of Barclays’ investment bank.
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