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 = Wedbush Futures
| company_logo =  [[Image:Knight.gif‎]]
| company_logo =  [[Image:Wedbush.jpg‎]]
| 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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| stocktwits =    <!-- StockTwits ID for the company, e.g. JohnLothian, or leave blank -->
| stocktwits =    <!-- StockTwits ID for the company, e.g. JohnLothian, or leave blank -->
| facebook =      <!-- Facebook Page -->
| facebook =      <!-- Facebook Page -->
| homepage =      [http://www.knightfutures.com www.knightfutures.com]
| homepage =      [http://www.wedbushfutures.com wedbushfutures.com]
| press =          <!-- A link to where press releases can be found, or leave blank to omit -->
| press =          <!-- A link to where press releases can be found, or leave blank to omit -->
}}
}}


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 ==
Wedbush 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 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.


GHGO was acquired by [[Penson Worldwide]] in 2007The 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.
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.


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]].<ref>{{cite web|url=http://www.prweb.com/releases/2014/04/prweb11784421.htm|name=Wedbush Announces Strategic Transaction with Crossland|org=Wedbush|date=November 18, 2015}}</ref>
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. 


== Key People ==
== Key People ==
*[[Carl Gilmore]], Managing Director
*[[Joe Signorelli]], head of futures
*[[Christopher Hehmeyer]], Non-Executive Vice Chairman
*[[Thomas P. Anderson]], senior vice president, head of proprietary trading group services and head of sales
 
*[[Patti Kane]], senior VP and CFO
*[[Thomas Chlada]], senior VP, professional trading group services
*[[Mike O'Callaghan]], managing director of business development
== References ==
== References ==
<references />
<references />
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[[Category:KCG]]
[[Category:KCG]]
[[Category:Knight Futures]]
[[Category:Knight Futures]]
[[Category:Wedbush Securities]]

Latest revision as of 17:23, 6 August 2021

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Wedbush Futures
Wedbush.jpg
Founded 2014
Headquarters Chicago
Key People Christopher Hehmeyer, non-exeuctive Vice Chairman; Carl Gilmore, Managing Director
Products futures commission merchant
Website wedbushfutures.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]

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.[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.

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.[2]

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.

Key People[edit]

References[edit]