KCG Holdings’ quarterly revenues were higher than a year ago, but lower quarter-on-quarter.
KCG Holdings has announced its quarterly figures for Q2 2016 with the company reporting consolidated earnings totaling $33.6 million, which is $0.38 per diluted share. Income before taxes totaled $54.6 million, which included a gain of $33.4 million from the sale of the BATS Global Markets stake which the company held.
Total revenues amounted to $319.9 million, which is lower by 7.3 per cent when compared to the first quarter of 2016, but higher by about 22 per cent when compared to a year ago. Pretax income totaled $54.5 million, which is a complete reversal from a year ago when the company reported a $57 million loss.
KCG increased its market share in U.S. equity trading diving by over 2 per cent in the quarter and its fixed income trading unit, KCG BondPoint, setting a new quarterly record for trading volumes.
The BATS Global Markets share of KCG was sold to mark a pre-tax gain of $33.4 million.
Commenting on the results, the CEO of KCG, Daniel Coleman, said: "Despite relatively poor market conditions for most of the second quarter, KCG produced reasonable financial results. KCG market making in U.S. Equities had another strong quarter with a revenue capture of 1.07 basis points. In addition, our franchise ETF desk and KCG BondPoint both showed continued growth in revenues and market share.”
“The results were further lifted by a sizeable gain from the sale of a portion of the company's investment in Bats, a part of the proceeds from which went toward funding more than $60 million in stock and warrant repurchases during the quarter,” the CEO of the company elaborated.
KCG Holdings Market Making
Looking at the market making segment of KCG, the business generated total revenues of $211.8 million with and pre-tax income of $40.5 million. The revenues were lower by 18 per cent when compared to last quarter while income dropped 46 per cent.
Mr. Coleman commented, "Although the market for U.S. equities was relatively quiet until the tail end of the quarter, KCG Market Making produced strong results. The performance of quantitative trading models and market share gains of retail order flow drove the performance. Notwithstanding, lower realized Volatility constrained results as did the broad declines in market volumes for certain asset classes and products year over year."
KCG Holdings has announced its quarterly figures for Q2 2016 with the company reporting consolidated earnings totaling $33.6 million, which is $0.38 per diluted share. Income before taxes totaled $54.6 million, which included a gain of $33.4 million from the sale of the BATS Global Markets stake which the company held.
Total revenues amounted to $319.9 million, which is lower by 7.3 per cent when compared to the first quarter of 2016, but higher by about 22 per cent when compared to a year ago. Pretax income totaled $54.5 million, which is a complete reversal from a year ago when the company reported a $57 million loss.
KCG increased its market share in U.S. equity trading diving by over 2 per cent in the quarter and its fixed income trading unit, KCG BondPoint, setting a new quarterly record for trading volumes.
The BATS Global Markets share of KCG was sold to mark a pre-tax gain of $33.4 million.
Commenting on the results, the CEO of KCG, Daniel Coleman, said: "Despite relatively poor market conditions for most of the second quarter, KCG produced reasonable financial results. KCG market making in U.S. Equities had another strong quarter with a revenue capture of 1.07 basis points. In addition, our franchise ETF desk and KCG BondPoint both showed continued growth in revenues and market share.”
“The results were further lifted by a sizeable gain from the sale of a portion of the company's investment in Bats, a part of the proceeds from which went toward funding more than $60 million in stock and warrant repurchases during the quarter,” the CEO of the company elaborated.
KCG Holdings Market Making
Looking at the market making segment of KCG, the business generated total revenues of $211.8 million with and pre-tax income of $40.5 million. The revenues were lower by 18 per cent when compared to last quarter while income dropped 46 per cent.
Mr. Coleman commented, "Although the market for U.S. equities was relatively quiet until the tail end of the quarter, KCG Market Making produced strong results. The performance of quantitative trading models and market share gains of retail order flow drove the performance. Notwithstanding, lower realized Volatility constrained results as did the broad declines in market volumes for certain asset classes and products year over year."
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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