Citi in talks to buy electronic trading firm: report
NEW YORK (Reuters) - Citigroup Inc. (C.N) is in advanced talks to buy Automated Trading Desk, an electronic trading firm, for about $700 million, The Wall Street Journal Online reported on Tuesday.
The purchase could be announced this week, the Journal said, citing people familiar with the matter.
The deal would be part of Citigroup's strategy of trying to increase its market share in trading U.S. stocks while bringing under its roof computer programs that could improve its efforts to trade stocks overseas, according to the report.
Citigroup did not immediately return calls seeking comment. A spokeswoman for ATD declined comment.
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