Market Maker GTS Buys Foreign-Exchange Trading Unit From HC Tech

Electronic market maker GTS is expanding its presence in foreign exchange through a deal with algorithmic trading firm HC Technologies.

GTS acquired HC Tech’s foreign-exchange trading assets this month, according to people with knowledge of the matter who asked not to be identified discussing a private matter. As part of the transaction, about 50 HC Tech workers will join GTS, increasing the size of the New York-based firm to almost 400 employees, the people said. The value of the transaction couldn’t immediately be learned.

Representatives for GTS and HC Technologies, based in Chicago, declined to comment.

The deal expands ...