is selling its Bear Wagner specialist business to
Barclays Capital, the investment banking division of the U.K.-based bank, has agreed to acquire Bear Wagner's portfolio of designated market making stocks, according to a release issued by
. JPMorgan acquired Bear Wagner last year when it acquired much of
The deal price was not disclosed, according to a Barclays spokesman.
Barclays will become the largest NYSE designated market maker with more than 850 exchange-listed stocks and 28% of NYSE's average daily trading volume through the deal. The transition will occur in April, NYSE said.
Following the Barclays acquisition of the Bear Wagner specialists, NYSE so-called designated market makers include:
Bank of America
, Kellogg Specialist Group,
and Spear, Leeds & Kellogg Specialists, NYSE said.
A JPMorgan Chase spokesman declined to comment further.