KCG Holdings, Inc. Class A (NYSE:KCG) announced today the launch of its newly re-branded and updated equities trading venue, MatchIt.
MatchIt represents the next evolution in KCG’s U.S. equities alternative trading system (“ATS”), which now offers investors more comprehensive data to make better informed trading decisions.
“One of KCG’s strengths is our ability to source liquidity. MatchIt provides the firm and its subscriber clients with another way to access liquidity in today’s marketplace,” commented Erica Attonito, who oversees MatchIt.
“Plus, as supporters of the competition and innovation embodied by Reg ATS, we believe there is value in operating a venue that provides clients with the option of crossing their orders with other non-displayed client orders in a transparently structured, regulated setting.”
With MatchIt, KCG is making a broad swath of venue-specific information widely available on its website, including the current and historical form ATS, daily volume, pricing, subscriber agreement, and operational specs. KCG will also continue to invest in MatchIt’s technology to enhance the trading venue’s functionality and capabilities for clients.
Previously, the ATS was registered and marketed under the name “Knight Match”. Following the 2013 merger of Knight Capital Group and Getco LLC, the resulting firm, KCG, had two US equity ATSs: Knight Match and GetMatched.
In 2014, KCG decommissioned GetMatched in order to reduce fragmentation of order flow and focus on the evolution of the Knight Match ATS. This rebranding represents the first phase of that process.
For the official announcement from KCG, click here.