Goldman Sachs Said in Talks to Sell NYSE Trading Unit to IMC

Apr 01, 2014 6:39 pm ET

(Updates with potential sale price in second paragraph.)

April 1 (Bloomberg) -- IMC Financial Markets is in talks to buy Goldman Sachs Group Inc.’s New York Stock Exchange market- making unit, two people familiar with the matter said.

Goldman Sachs is seeking as much as $30 million for the business, said one of the people, who asked not to be identified because the negotiations are private.

IntercontinentalExchange Group Inc.’s NYSE relies on traders known as designated market markers, or DMMs, to facilitate the buying and selling of shares. Barclays Plc and KCG Holdings Inc. are the biggest DMMs, followed by Goldman Sachs and Virtu Financial Inc., according to a person with knowledge of the matter.

IMC, which stands for International Marketmakers Combination, is a trading firm and asset manager founded in Amsterdam in 1989. It has U.S. offices in Chicago and New York, and trades on more than 90 exchanges around the world, according to its website.

Remco Lenterman, an IMC managing director, and Tiffany Galvin of New York-based Goldman Sachs said their respective companies don’t comment on speculation.