The bidding is heating up for E*Trade’s wholesaler unit.
According to Reuters, Citadel LLC, Virtu Financial, Two Sigma and RGM Advisors are all bidding for G1 Execution Services, the E*Trade unit that makes markets for retail brokerages.
Any deal could be worth between $100 million to $200 million, according to the news service.
G1 is part of a group of five broker-dealers that dominate the business of order processing for retail brokers. Competitors include KCG Holdings, UBS, Citadel Securities, and Citigroup/ATD.
Last month, E*Trade announced the unit was for sale and that it would take a $142.4 million impairment charge.
Citigroup is overseeing the sale, according to Reuters.
There is at least one other bidder—a bank that does not currently offer market-making services, according to Reuters.
