Knight Capital Americas Gets Renamed KCG Americas, Unlocks Cost Synergies
- The NJ-based operator in both US Equities and Foreign Exchange markets, through its diversified businesses, has consolidated post-merger related entities to unlock cost benefits as its renames a key business segment.
One of the Retail Foreign Exchange Dealer (RFED) members that Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates writes about regarding FX Trading Volumes, Knight Capital Americas LLC, has rebranded under KCG Americas (KCGA), according to a press release today from its parent company KCG Holdings.
The legally renamed entity, under the new KCG Americas name, is also a member of FINRA and a SEC registered broker-dealer, in addition to its RFED status as a CFTC registered futures commission merchant (FCM), and its operations of the KCG HotSpot FX subsidiary, among the other subsidiaries listed under the holding group structure as of January 1st, 2014.
According to the press release, the name change and consolidation reflect a simplification of KCG's post-merger, broker-dealer subsidiary structure. Further, the consolidation was noted as generating cost synergies and releases additional capital.
To create KCG Americas LLC, the brokerage operations of GETCO Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term Services LLC (GES) and GETCO Securities, LLC (GTS) were first consolidated into Knight Capital Americas LLC (KCA), then OCTEG, LLC (OCTEG) was merged into KCA, which was subsequently renamed KCG Americas LLC, effective December 31, 2013 after the market close, as per the announcement.
The firm had reported record market-shares for its US executing-brokerage business on the US Stock Markets in 2013 and saw its FX volumes outpace that of the competition during certain months, as flows on major venues shifted.
One of the Retail Foreign Exchange Dealer (RFED) members that Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates writes about regarding FX Trading Volumes, Knight Capital Americas LLC, has rebranded under KCG Americas (KCGA), according to a press release today from its parent company KCG Holdings.
The legally renamed entity, under the new KCG Americas name, is also a member of FINRA and a SEC registered broker-dealer, in addition to its RFED status as a CFTC registered futures commission merchant (FCM), and its operations of the KCG HotSpot FX subsidiary, among the other subsidiaries listed under the holding group structure as of January 1st, 2014.
According to the press release, the name change and consolidation reflect a simplification of KCG's post-merger, broker-dealer subsidiary structure. Further, the consolidation was noted as generating cost synergies and releases additional capital.
To create KCG Americas LLC, the brokerage operations of GETCO Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term Services LLC (GES) and GETCO Securities, LLC (GTS) were first consolidated into Knight Capital Americas LLC (KCA), then OCTEG, LLC (OCTEG) was merged into KCA, which was subsequently renamed KCG Americas LLC, effective December 31, 2013 after the market close, as per the announcement.
The firm had reported record market-shares for its US executing-brokerage business on the US Stock Markets in 2013 and saw its FX volumes outpace that of the competition during certain months, as flows on major venues shifted.