Tag: $KCG

January 02, 2014 BY Gerald Segal

KCG completes consolidation of Knight Capital and GETCO into KCG Americas

KCG’s broker-dealer sub joins KCG Hotspot (formerly Hotspot FX) under the KCG brand The independent securities company KCG has announced in a press release today that it successfully completed the consolidation of both of its US broker-dealer operations Knight Capital Americas LLC and GETCO into a single entity named KCG Americas LLC (KCA). The company…

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August 08, 2013 BY Gerald Segal

Why did KCG lose $96 million in Q2 and see its shares stay flat?

KCG's Q2 figures also make apparent what drove Getco to buy KCG. The newly-merged Getco and Knight Capital (parent of Forex ECN Hotspot FX) -- now called KCG -- announced results for its first quarter as a merged company on Wednesday, although results were presented separately for Knight Capital and Getco, presumably for the last time.…

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July 31, 2013 BY Gerald Segal

KCG continues selling assets – is Hotspot FX next?

The post Knight Capital-Getco merger sale of non-core assets continues, with reverse mortgage originator Urban Financial sold for $80 million. KCG Group -- the company resulting from the merger of Knight Capital and Getco -- has announced the sale of Urban Financial for $80 million to an investor group led by financier Brian Libman. Urban is…

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July 16, 2013 BY Gerald Segal

Hotspot FX reports all time best forex volumes in June

Hotspot FX reports its first volume metrics as a newly private company, and they are impressive. Although it may not remain a private company (or rather, part of a private company) for long, Forex ECN Hotspot FX seems to be doing just fine outside the limelight of the public markets. Now owned by Getco, Knight…

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June 26, 2013 BY Gerald Segal

Knight Capital and Getco formally approve merger

Still unclear what exactly will happen to Knight Capital Forex ECN unit Hotspot FX. Equity market makers Knight Capital and Getco have announced that shareholders of both entities have overwhelmingly approved the merger of the two companies at separate votes held today -- the last formal hurdle to closing the transaction. Unless something strange happens,…

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June 14, 2013 BY Gerald Segal

Hotspot FX May volumes highest in two years

Knight Capital Forex ECN unit sees volumes rise 14% in May to $33.7 billion per day. Completing a mixed month volume-wise for the Forex ECNs, Knight Capital (NYSE: KCG) Forex ECN unit Hotspot FX reported that its May volumes rose nicely to average $33.7 billion daily -- up 14% from April and up 19% from…

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February 21, 2013 BY Gerald Segal

Hotspot FX management to be replaced by Getco COO

Darren Mast, Getco COO, named Interim Head of Currencies at the merged company. In what seems like a clear sign that the merged Knight Capital and Getco company will look to sell its Forex ECN division Hotspot FX, Knight Capital announced today that post-merger, the Currencies division (namely, Hotspot FX) will be run an interim…

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January 25, 2013 BY Gerald Segal

Hotspot FX volumes down 9% in December

Will Hotspot FX soon have a new owner? Hotspot FX reported that volumes in its Forex ECN system fell in December to average $19.6 billion daily, down 9% from November's $21.6 billion -- but up 2% from last-year December's $19.2 billion. The numbers basically match what we already reported for the overall FX industry, with our Retail…

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December 19, 2012 BY Gerald Segal

Knight Capital to choose Getco bid

Getco likely to divest Knight's non-core assets, including Hotspot FX. Although it has not yet been formally announced, sources close to the situation (and as reported by CNBC) reported that Knight Capital's board will select Getco's offer to buy the company, after Getco raised the cash portion of its bid to $3.60 per Knight share.…

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