KCG (NYSE:KCG) today announced that it will launch a new quantitatively-driven market commentary service to trading clients. The offering will provide information and insights to help traders more fully understand the complexity of the markets, what drives performance, where liquidity comes from and how much it really costs to trade.
As a result of this, the North American conglomerate has appointed former Credit Suisse senior executive as the Head of Trading Strategy and Analysis to spearhead the new offering.
Mr. Mackintosh, whose most recent position at Credit Suisse was Managing Director, Global Head of Trading Strategy, will be responsible for researching, publishing, and consulting with KCG’s trading clients on topics related to transaction costs, trading strategies, market structure, ETFs and index events, among other content.
“We are thrilled to welcome Phil to KCG,” said Greg Tusar, Co-Head of KCG’s Global Execution Services and Platforms. “Our clients are demanding and consuming different kinds of content — beyond traditional research — to seek insights, perspective and liquidity expertise that enhances their ability to preserve alpha and manage risk. Phil’s track record in this arena is second to none. By combining his leadership with our innate access to market intelligence and base of liquidity, we believe our clients will derive great benefit from this new offering. This is something KCG is uniquely able to deliver, because of our independence, our focus, and our innovative business model.”
In addition to publishing commentary to a base of KCG trading clients, Mr. Mackintosh will spearhead the development of KCG’s framework for trade cost analysis, or TCA, and consult with individual clients on how they might enhance their strategies or better apply tools and order types to reduce frictional costs.
“The markets are changing all the time and the new KCG Trading Strategy and Analysis team will provide expertise, transparency and insights to clients, to help them navigate the best ways to deal with the complexities of modern markets,” said Mr. Mackintosh. “As KCG’s institutional business grows it is clear that clients want to understand the true cost of trading. I’m excited for the opportunity to be part of this initiative with KCG and to contribute to the trading business of one of the largest market makers in the world.”
Among other subjects, Mr. Mackintosh will lead the publication of cash equity market and sales commentary to help KCG clients stay abreast of changes in securities markets and educate clients on how those changes impact their trading. Mackintosh will also be responsible for helping KCG’s ETF issuer clients and end users understand the various nuances and idiosyncrasies of products and transactions related to ETF index weightings.