Historically low volatility and heightened competition has led to Sun Trading going up for sale. Shrinking margin for its high-frequency business seems to have pushed the proprietary trader in this direction.
Sun Trading has been contacted by several potential buyers with regards to the sale, thus adding the firm to an increasingly long list of entities that were either shuttered or acquired by competitors. Recently, RGM Advisors was bought by one of the world's largest proprietary trading firms, Don Wilson's DRW Holdings. Similarly, in July KCG Holdings sold its trading business to Virtu Financial for 1.4 billion USD; and in March a part of Teza Technologies was bought out by Quantlab Financial.
The rise of Sun Trading began in cash equities in the early 2000s. The firm was private-equity backed by Summit Partners in 2008, but the investor appears to have divested of its stake last year.