KCG Holdings Inc. (KCG)
|KCG Holdings Inc.|
|Headquarters||Jersey City, New Jersey|
KCG Holdings Inc. (KCG) is the name given to the former Knight Capital Group after it was acquired by GETCO in the summer of 2013 for $1.4 billion. KCG is the merged entity. The company offers trade execution to broker-dealers and institutional investors across all capital markets. It also owns a majority stake in hedge fund manager Deephaven Holdings.
Jefferies Group LLC owns a 20 percent stake in KCG, after it boosted its original stake by purchasing an additional 6 million shares in March 2014. Jefferies was one of several firms that helped rescue the former Knight Capital Group in 2012 after a technology problem caused it to lose $440 million in one day of trading. Jefferies acquired the shares for $11 each, bringing its total holding to 22.5 million shares.
In September 2014, KCG Holdings Inc. agreed to sell its futures commission merchant business to Wedbush Securities Inc.
In September 2014, KCG announced a new trading venue called HotSpot QT for currencies. The platform will not disclose prices to the market before or after transactions are placed.
To create KCG Americas LLC, the brokerage operations of GETCO Execution Services LLC and GETCO Securities, LLC were first consolidated into Knight Capital Americas LLC (KCA), then OCTEG, LLC (OCTEG) was merged into KCA, which was subsequently renamed KCG Americas LLC, effective December 31, 2013.
Also See Knight Capital Group
Products and Services
- Daniel Coleman, Chief Executive Officer
- KCG History. KCG.
- Getco goes away. Crain's Chicago.
- KCG Sinks as Executives Depart Speed Trader Turned Broker. Bloomberg.
- Knight Capital Americas Gets Renamed KCG Americas, Unlocks Cost Synergies. Forex Magnates.