Company type | Subsidiary |
---|---|
NYSE: KCG | |
Industry | Financial services |
Founded | 2013 from merger of Knight Capital Group and Getco LLC |
Headquarters | New York City, New York, United States |
Key people | Daniel Coleman, Chief Executive Officer |
Products | Market making and trading |
Revenue | US$ 1.45 billion (2016) [1] |
US$ 61.1 million (2014) [2] | |
Total assets | US$ 6.830 billion (2014) [2] |
Total equity | US$ 1.522 billion (2014) [2] |
Number of employees | 1,093 (2014) [2] |
Parent | Virtu Financial |
Subsidiaries | NetDelta LLC |
Website | www.kcg.com |
KCG Holdings, Inc. was an American global financial services firm engaging in market making, high-frequency trading, electronic execution, and institutional sales and trading. [3] The company was formed on July 1, 2013, upon the completion of the merger between Knight Capital Group, Inc. and GETCO Holding Company, LLC. [4] Global growth equity firm General Atlantic, who had a 25% stake in GETCO, made an additional equity investment at the time of the merger. Rene Kern, managing director at General Atlantic joined the board of directors [5]
On April 20, 2017, KCG announced that it had agreed to be acquired by Virtu Financial for $20 per share in cash in a deal valued at approximately $1.4 billion. [6] [7]
Getco LLC was founded in 1999 [8] by Stephen Schuler and Daniel Tierney, former floor traders in Chicago, and had 400 employees at the time of the merger. The firm's primary business was electronic market making/high-frequency trading, though it also provided execution algorithms and a dark pool through its client services arm, Getco Execution Services.
Knight Capital Group was founded in 1995 [9] as Knight/Trimark Group and had about 1400 employees at the time of the merger. Its largest business was market-making in US equities for retail brokerages, though it also provided other services such as electronic execution, dark pools, plus institutional sales and trading. In August 2012, a technological/managerial breakdown subsequently dubbed the "Knightmare" caused Knight to lose $460m in the course of one trading day, nearly putting the firm out of business. [10] In December 2012, it agreed to be acquired by Getco LLC. The merger was approved by the respective stockholders and unitholders of both companies on June 25, 2013. [4]
On July 8, 2013, chief executive officer Daniel Coleman rang the opening bell at the New York Stock Exchange, marking the completion of Knight and Getco's merger and the unveiling of a new corporate identity, KCG Holdings. [11]
In 2014, 27 million shares of Platinum Studios were acquired by KCG Holdings. [12]
In January 2015, KCG Holdings announced it would be selling its foreign exchange trading platform KCG Hotspot to BATS Global Markets for $365 million. [13]
In April 2017, Virtu Financial announced that it would purchase KCG Holdings for US$1.4 billion in cash. [14] The acquisition closed on July 20, 2017. [15]
Nielsen Holdings plc is an American media audience measurement firm. Nielsen operates in over 100 countries and employs approximately 15,000 people worldwide.
Dean Witter Reynolds was an American stock brokerage and securities firm catering to a variety of clients. Prior to the company's acquisition, it was among the largest firms in the securities industry with over 9,000 account executives and was among the largest members of the New York Stock Exchange. The company served over 3.2 million clients primarily in the U.S. Dean Witter provided debt and equity underwriting and brokerage as mutual funds and other saving and investment products for individual investors. The company's asset management arm, Dean Witter InterCapital, with total assets of $90.0 billion prior to the acquisition, was one of the largest asset management operations in the U.S.
SunGard was an American multinational company based in Wayne, Pennsylvania, which provided software and services to education, financial services, and public sector organizations. It was formed in 1983, as a spin-off of the computer services division of Sun Oil Company. The name of the company originally was an acronym which stood for Sun Guaranteed Access to Recovered Data, a reference to the disaster recovery business it helped pioneer. SunGard was ranked at 480th in the U.S. Fortune 500 list in the year 2012.
Piper Sandler Companies is an American multinational investment bank and financial services company, focused on mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, investment management and securities research. Through its principal subsidiary, Piper Sandler & Co., the company targets corporations, institutional investors, and public entities.
TD Cowen, is an American multinational investment bank and financial services division of TD Securities that operates through two business segments: a broker-dealer and an investment management division.
Jefferies Group LLC is an American multinational independent investment bank and financial services company that is headquartered in New York City. The firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, and asset management. This includes mergers and acquisitions, restructuring, and other financial advisory services. The Capital Markets segment also includes its securities trading and investment banking activities.
NYSE Euronext, Inc. was a transatlantic multinational financial services corporation that operated multiple securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca. NYSE merged with Archipelago Holdings on March 7, 2006, forming NYSE Group, Inc. On April 4, 2007, NYSE Group, Inc. merged with Euronext N.V. to form the first global equities exchange, with its headquarters in Lower Manhattan. The corporation was then acquired by Intercontinental Exchange, which subsequently spun off Euronext.
Evercore Inc., formerly known as Evercore Partners, is a global independent investment banking advisory firm founded in 1995 by Roger Altman, David Offensend, and Austin Beutner. The firm has advised on over $4.7 trillion of merger, acquisition, and restructuring transactions since its founding. Evercore is widely considered one of the most prestigious and elite investment banking advisory firms.
StoneX Group Inc. is an American financial services company. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES).
Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada, and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange; equity options exchanges; and OTC energy, credit, and equity markets.
Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech, and as of Q2 2024 it offers its solutions in two primary segments: Banking Solutions & Capital Market Solutions. Annually, FIS facilitates the movement of roughly $9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.
Hilltop Holdings Inc. is a financial holding company based in Dallas, Texas. It offers financial products and banking services through three primary subsidiaries: PlainsCapital Bank, PrimeLending, and HilltopSecurities.
Virtus Investment Partners, Inc. operates a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
The Knight Capital Group was an American global financial services firm engaging in market making, electronic execution, and institutional sales and trading. With its high-frequency trading algorithms Knight was the largest trader in U.S. equities, with a market share of 17.3% on NYSE and 16.9% on NASDAQ. The company agreed to be acquired by Getco LLC in December 2012 after an August 2012 trading error lost $460 million. The merger was completed in July 2013, forming KCG Holdings.
GAIN Capital was a US-based provider of online trading services, headquartered in Warren, New Jersey until it was acquired by StoneX Group in 2020. The company provided market access and trade execution services in foreign exchange, contracts for difference (CFDs) and exchange-based products to retail and institutional investors. Trading was provided via one of two electronic trading platforms, its own proprietary FOREXTrader PRO later renamed as StoneX Pro and MetaTrader 4. GAIN Capital allowed retail and institutional clients to speculate on global foreign exchange markets in what is known as ‘margin forex trading’.
The Global Electronic Trading Company (GETCO), or Getco LLC, is an American proprietary algorithmic trading and electronic market making firm based in Chicago, Illinois. In December 2012, the firm agreed to acquire Knight Capital Group; this merger was completed in July 2013, forming the new company KCG Holdings.
Virtu Financial is an American company that provides financial services, trading products and market making services. Virtu provides product suite including offerings in execution, liquidity sourcing, analytics, broker-neutral, multi-dealer platforms in workflow technology and two-sided quotations and trades in equities, commodities, currencies, options, fixed income, and other securities on over 230 exchanges, markets, and dark pools. Virtu uses proprietary technology to trade large volumes of securities. The company went public on the Nasdaq in 2015.
Mizuho Americas was established on July 1, 2016 as a US bank holding company, as the American corporate and investment banking arm of the Tokyo-based Mizuho Financial Group.
Edgar Perez is an American-Peruvian business author, keynote speaker and corporate trainer who has spoken at a number of academic and professional institutions. He is the author of The Speed Traders and Knightmare on Wall Street, and has been interviewed internationally on the topics of artificial intelligence and deep learning, quantum computing, cybersecurity and high-frequency trading. He currently lives in New York City.
Tradeweb Markets Inc. is an international financial technology company that builds and operates electronic over-the-counter (OTC) marketplaces for trading fixed income products, ETFs, and derivatives. Its customers include banks, asset managers, central banks, pension funds and insurance companies. Tradeweb's headquarters are in New York City.
Category:Companies based in London, United Kingdom