The privately-held, London-based firm said in a December 8 statement that it has joined Bats Europe as a member firm. XTX will continue to be a market partner and liquidity provider on the exchange.
XTX, which provides liquidity across equities, derivatives, foreign exchange and commodities, said the move is a “continuation” of its expansion on exchanges.
The company, which was spun out of the quantitative hedge fund GSA Capital, said it was a “natural next step” in the growth of its equities business.
Andonis Sakatis, head of business development at XTX Markets, said: ‘’XTX has long been a provider of liquidity in equities across global exchanges and joining Bats Europe further enhances the breadth of products and venues for counterparties to benefit from XTX’s consistent liquidity provision.’’
Jerry Avenell, co-head of sales for Bats Europe, said: “As a member, they will now have access to trade 15 major markets across Europe, over one platform and under one rule book, further diversifying the liquidity available on our market.”
On November 14, the London Stock Exchange welcomed XTX as a non-clearing member firm, another sign of the firm’s increasing presence on exchanges. In October, XTX was named Specialist Liquidity Provider of the Year at FN’s Trading and Technology Awards.
XTX made a pre-tax profit of £47.6 million on revenue of £72.4 million from its incorporation on January 30, 2015 to December 31, Companies House filings showed in September. The company started trading on July 1, 2015.
Amrolia, a former head of foreign exchange, and fixed income, currencies and commodities at Deutsche Bank, became XTX’s co-chief executive in 2015, leading the firm alongside Alex Gerko, a quantitative trader who worked for him at the German bank.