Following yesterday’s announcement that GETCO and Knight Capital Group have completed their merger, the firm has rebranded to KCG Holdings and unveiled their new website today. The new brand uses the Knight Capital, KCG stock symbol, while retaining GETCO’s logo. The rebranding has been applied across KCG units, with the firms OTC FX ECN, Hotspot FX, also taking on the new look.
Commenting on the completion, Daniel Coleman, Chief Executive Officer of KCG stated “We’re pleased to announce the completion of a merger that brings together the exceptional talent of each business to create a leading global securities firm. KCG will connect investors and markets worldwide through agency execution, market making, and the operation of multi-asset class trading venues.” He added “as one KCG, our focus is on strategically blending human capital with superior technology to create flexible solutions that meet our clients’ evolving needs.”
2020 Global Market Outlook: How the “Known Unknowns” Can Affect CurrenciesGo to article >>
The rebranding completes a long ride for Knight which has become vulnerable to a buyout following a trading glitch last August that cost the firm $400 million. Following that episode, the company received financing from a multiple group of entities, which included GETCO. The current merger is the result of a bidding war between GETCO and Virtu LLC, for Knight which culminated in GETCO’s favor back in December of last year.