Oct. 23 (Bloomberg) — E*Trade Financial Corp. agreed to sell a market-making business that had been the subject of a regulatory inquiry to Susquehanna International Group LLP for $75 million.
E*Trade agreed to sell G1 Execution Services LLC after disclosing in August that Financial Industry Regulatory Authority was reviewing how that unit and E*Trade Securities LLC routed customer orders.
Earlier, New York-based E*Trade had said it had found shortcomings in how it measured whether trades were completed at the best prices.
As part of the agreement, E*Trade will send 70 percent of customer equity orders to G1 Execution for five years, according to a statement today.
