KCG Holdings Inc. Finalizes the Sale of its FCM KCG Futures to Wedbush Securities
- After announcing that it is looking for strategic options for KCG Hotspot, the company announces today that its Futures Commission Merchant has been sold for an undisclosed sum to a private investment company.
After announcing in the beginning of September its intentions to sell its Futures Commission Merchant, KCG Holdings Inc. (NYSE:KCG) has issued a company announcement outlining that the deal with Wedbush Securities has been concluded. Financial terms of the transaction remain undisclosed.
Restructuring efforts at the company have been ongoing for the past couple of months with the firm slashing its workforce by 4% in September in a move which followed the announcement.
The surprise resignation of KCG Holdings’ Chief Financial Officer (CFO) Steven Bisgay was the culmination of a series of senior executive departures. The company's Head of Corporate Strategy Richard Herr and Deputy General Council Andy Greenstein left around the time of the departure of Managing Director and Head of Sales at KCG Hotspot John Miesner, who left the foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term arm at KCG after 14 years.
More recently, the company has announced that it is looking at strategic options for its foreign exchange business KCG Hotspot, with a rumored asking price totaling $300 million. Volumes at the FX arm of KCG Holdings (NYSE:KCG) have picked up materially in recent months as the Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term on the foreign exchange market rebounded.
As a result of the transaction, the composition of KCG Holdings’ (NYSE:KCG) balance sheet has been changed, with certain assets and corresponding liabilities, totalling approximately $680 million as of September 30, 2014, being removed from it.
After announcing in the beginning of September its intentions to sell its Futures Commission Merchant, KCG Holdings Inc. (NYSE:KCG) has issued a company announcement outlining that the deal with Wedbush Securities has been concluded. Financial terms of the transaction remain undisclosed.
Restructuring efforts at the company have been ongoing for the past couple of months with the firm slashing its workforce by 4% in September in a move which followed the announcement.
The surprise resignation of KCG Holdings’ Chief Financial Officer (CFO) Steven Bisgay was the culmination of a series of senior executive departures. The company's Head of Corporate Strategy Richard Herr and Deputy General Council Andy Greenstein left around the time of the departure of Managing Director and Head of Sales at KCG Hotspot John Miesner, who left the foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term arm at KCG after 14 years.
More recently, the company has announced that it is looking at strategic options for its foreign exchange business KCG Hotspot, with a rumored asking price totaling $300 million. Volumes at the FX arm of KCG Holdings (NYSE:KCG) have picked up materially in recent months as the Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term on the foreign exchange market rebounded.
As a result of the transaction, the composition of KCG Holdings’ (NYSE:KCG) balance sheet has been changed, with certain assets and corresponding liabilities, totalling approximately $680 million as of September 30, 2014, being removed from it.