|Key People||Christopher Hehmeyer, non-exeuctive Vice Chairman; Carl Gilmore, Managing Director|
|Products||futures commission merchant|
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.
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. 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.
- Getco goes away. Crain's Chicago.