Hedge Fund News From HedgeCo.Net

Hedge Fund Cowen Group Acquires ATM LLC

New York (HedgeCo.net) – Hedge fund giant Cowen Group, Inc. has announced the acquisition of  Algorithmic Trading Management, LLC. (ATM), a provider of global, multi-asset class algorithmic execution trading models.

“The ATM team has developed first-rate execution technology that will greatly enhance the algorithmic trading capability in our broker-dealer business,” said Peter Cohen, Chairman and Chief Executive Officer of Cowen. “ATM has been an innovator and leader in the electronic trading space since the company’s founding in 2003 due to their rigorous quantitative research and exceptional understanding of capital markets.”

The transaction, which is subject to certain regulatory approvals and customary closing conditions, is expected to close by the end of the first quarter or early second quarter of 2012. Financial terms of the transaction were not disclosed.

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