KCG Launches Multi-Asset Direct-to-Client Market Making Service

KCG Acknowledge is said to provide an unprecedented level of transparency in the field.

KCG Holdings, Inc. (NYSE: KCG) announced today the launch of KCG Acknowledge, a bilateral direct-to-client market making service. It brings the group’s market making businesses in Equities, U.S. Treasuries and FX under a single umbrella.

KCG promises that it will publish the execution protocols online for all asset classes, the first time a single-broker liquidity provider delivers this level of transparency.

Specifically for FX, KCG provides clients with a direct connection to a market maker in order to find liquidity. The group says that, in principle, Acknowledge FX generates competitive prices in G20 pairs and can customize pricing, tick updates, skewing and fill ratios based on demand.

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Greg Tusar, Head of Global Execution Services, said, “In today’s high-speed electronic trading environment, accountability and transparency have become more important than ever – that is the vision behind KCG Acknowledge.

With Acknowledge, we have a direct, one-to-one, ongoing relationship with our clients that enables us to not only ensure they are satisfied with pricing and execution quality every time, but also allows us to connect with them on a deeper level by understanding their unique objectives and workflows – which can make a real difference in long-term trading performance.”

Doug Borden, Co-Head of Equities Client Market Making, added, “As market complexity has increased and options for trading have multiplied, liquidity can be increasingly difficult to source. Acknowledge clients can rely on a well-known, trusted counterparty that is focused on building a strong, long-term relationship. Trading used to come with this level of accountability, and with Acknowledge, it can once again.”

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