Global Trading Systems, a market maker with headquarters in New York, said on Wednesday that it is opening an office in Tel Aviv.
The new office will employ 15 people and will seek to take advantage of the large set of tech-oriented workers that are based in the Israeli city.
Yaron Katz will be heading up the office according to a statement put out by GTS. Katz, who is originally from Tel Aviv, is a partner at the market maker.
“We need to be present where the deepest pools of top tier tech talent”
He will be responsible for building the Israeli term by creating a research division and finding local talent from the Tel Aviv technology ecosystem.
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“GTS is a financial technology company and we need to be present where the deepest pools of top tier tech talent reside,” said GTS CEO and co-founder Ari Rubenstein.
“Many of our firm’s most important technologists, including retired co-founder Amit Livnat, are Israeli raised and trained. Now our next generation of talent will have the option to stay in Israel while helping to build our firm and the global capital markets.”
Anyone joining the new Israeli office will have a lot to do.
Rubenstein’s firm is a market maker in more than 10,000 financial instruments, including ETFs, equities and US treasuries.
The company makes up between 3-6 percent of cash equities trading volume in the US and is the largest designated market maker on the New York Stock Exchange.