Difference between revisions of "Wedbush Futures"

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{{Infobox_Company  <!-- Feel free to remove comments like this when you add real info -->
{{Infobox_Company  <!-- Feel free to remove comments like this when you add real info -->
| company_name = Knight Futures
| company_name = Knight Futures
| company_logo =  [[Image:Knight.gif‎]]
| company_logo =  [[Image:WedbushFutures BannerAd 395x120.gif|200px‎]]
| key_people =    [[Christopher Hehmeyer]], non-exeuctive Vice Chairman; [[Carl Gilmore]], Managing Director
| key_people =    [[Christopher Hehmeyer]], non-exeuctive Vice Chairman; [[Carl Gilmore]], Managing Director
| foundation =    <!-- Year founded -->
| foundation =    2014
| location =      <!-- Headquarters city, state, country -->
| location =      Chicago
| employees =      <!-- Approx number of employees -->
| employees =      <!-- Approx number of employees -->
| products =      futures commission merchant  
| products =      futures commission merchant  
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}}
}}


Knight Futures was the futures commission merchant subsidiary of [[Knight Capital Group]]. Knight acquired the futures commission merchant business of [[Penson Financial Services, Inc.]] in 2012, and renamed it Knight Futures. In September 2014, [[KCG Holdings Inc.]] agreed to sell its futures commission merchant business to [[Wedbush Securities Inc.]]
Wedbush Futures is a Chicago-based [[futures commission merchant]] and commodities broker offering trade execution and [[clearing]] services. The FCM was created out of the September 2014 sale by [[KCG Holdings Inc.]] of its Knight Futures subsidiary to [[Wedbush Securities Inc.]]  


== History ==
== History ==
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Knight Futures traces its history back to the founding of [[Goldenberg Hehmeyer]] ("GHCO") back in 1985.   
Knight Futures traces its history back to the founding of [[Goldenberg Hehmeyer]] ("GHCO") back in 1985.   


GHGO was acquired by [[Penson Worldwide]] in 2007.  The firm was originally called Penson GHCO. [[Penson Worldwide]] had also acquired [[First Ag Capitol]], efutures.com and Wolcott & Lincoln, LLC, an FCM located at the Kansas City Board of Trade.
GHGO was acquired by [[Penson Worldwide]] in 2007.  The firm was originally called Penson GHCO. [[Penson Worldwide]] had also acquired [[First Capitol Ag]], efutures.com and Wolcott & Lincoln, LLC, an FCM located at the Kansas City Board of Trade. [[Knight Capital Group]] acquired the futures commission merchant business of [[Penson Financial Services, Inc.]] in 2012, and renamed it Knight Futures.


In the summer of 2012, a technology problem caused Knight to lose $440 million in one day.<ref>{{cite web|url=http://www.chicagobusiness.com/article/20130702/NEWS01/130709944/getco-goes-away|name=Getco goes away|org=Crain's Chicago|date=July 3, 2013}}</ref>  Though a capital injection allowed the firm to avert bankruptcy, over the course of two years the company shed a number of business units including the sale of its market making unit to [[GETCO]] and its futures division to Wedbush.


== Key People ==
== Key People ==
*[[Carl Gilmore]], Managing Director
*[[Carl Gilmore]], Managing Director, head of futures
*[[Christopher Hehmeyer]], Non-Executive Vice Chairman
*[[Christopher Hehmeyer]], Non-Executive Vice Chairman


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[[Category:KCG]]
[[Category:KCG]]
[[Category:Knight Futures]]
[[Category:Knight Futures]]
[[Category:Wedbush Securities]]

Revision as of 02:03, 19 November 2015

WedbushFutures BannerAd 395x120.gif

Knight Futures
200px‎
Founded 2014
Headquarters Chicago
Key People Christopher Hehmeyer, non-exeuctive Vice Chairman; Carl Gilmore, Managing Director
Products futures commission merchant
Website www.knightfutures.com

Wedbush Futures is a Chicago-based futures commission merchant and commodities broker offering trade execution and clearing services. The FCM was created out of the September 2014 sale by KCG Holdings Inc. of its Knight Futures subsidiary to Wedbush Securities Inc.

History[edit]

Knight Futures traces its history back to the founding of Goldenberg Hehmeyer ("GHCO") back in 1985.

GHGO was acquired by Penson Worldwide in 2007. The firm was originally called Penson GHCO. Penson Worldwide had also acquired First Capitol Ag, efutures.com and Wolcott & Lincoln, LLC, an FCM located at the Kansas City Board of Trade. Knight Capital Group acquired the futures commission merchant business of Penson Financial Services, Inc. in 2012, and renamed it Knight Futures.

In the summer of 2012, a technology problem caused Knight to lose $440 million in one day.[1] Though a capital injection allowed the firm to avert bankruptcy, over the course of two years the company shed a number of business units including the sale of its market making unit to GETCO and its futures division to Wedbush.

Key People[edit]

References[edit]

  1. Getco goes away. Crain's Chicago.