South Street Securities announced the completion of its merger with GX2 Spread Markets. GX2 has fully transitioned its operations, trading and execution activity into South Street Securities, leveraging the enhanced balance sheet and direct clearing membership at FICC.
“This marks a significant milestone in the firm’s commitment to technology-enhanced trading across the capital markets, highlighting the evolution of algorithmic, agency brokerage and principal market making liquidity solutions in US Treasuries,” according to a company statement.
GX2 Systems continues to aggressively design, develop and deploy new execution algorithms and strategies while striving to improve customer access to execution through web application and API. The experienced team at GX2 Systems will help expand South Street Securities’ into primary dealer, large international dealer and hedge fund ecosystems.
“We’re focused on delivering more value to our clients through increased efficiency and technology-driven solutions across our businesses,” said James Tabacchi, president and CEO of South Street Securities, in a statement. “Bringing GX2 Spread Markets into South Street Securities represents the next chapter in our mission to scale strategically while honoring our standard of quality, relationship-driven service.”
“Joining forces under one broker dealer unlocks new opportunities for our team and clients,” said David Jaberg, president and CEO of GX2 Systems, in a statement. “It allows us to emphasize the growth of our voice execution desk and high-touch, client coverage by utilizing the latest technology developments and improvements within our global, algorithmic execution platform.”