The market-making arm of hedge fund Citadel is in talks to buy the seats on the floor of the New York Stock Exchange owned by KCG Holdings, according to people familiar with the matter.

Citadel Securities, a group owned by the Chicago-based hedge fund, is the would-be acquirer in the deal, the people said. The group is best known for its so-called wholesaler business that executes orders from retail investors on behalf of big brokerages such as TD Ameritrade Holding and Fidelity Investments.