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redirect [[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.
Wedbush 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. 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.
Wedbush had gained a foothold into the listed derivatives space when it acquired select assets of Crossland LLC. This acquisition gave the firm access to access to derivatives exchanges including the Chicago Mercantile Exchange, the Chicago Board of Trade, Intercontinental Exchange (ICE), Eurex and LIFFE.
In November 2015, Carl Gilmore, who headed the futures division of Wedbush, announced he would be leaving the firm to begin a consulting business, with Wedbush as its first client. The company named Joe Signorelli, who then headed Wedbush's Lime Brokerage subsidiary, as its new head of futures.