Virtu Financial said it would buy KCG Holdings in a $1.4 billion deal

21.04.2017 / 09:14

Rating:

Virtu Financial said it would buy rival KCG Holdings in a $1.4 billion deal that brings together two major players in the U.S. electronic trading space.

Virtu's offer of $20 per share.

Shares of KCG hit a record high of $19.73 in early trading on Thursday, while shares of Virtu were up about 8 percent.

"KCG fits perfectly with Virtu's strategic priorities to apply our market making and technological expertise to customer wholesale order flow and expand Virtu's growing agency execution business," Virtu Chief Executive Douglas Cifu said in a statement.

KCG was formed in December 2012 from the merger of New Jersey-based Knight Capital Group — a pioneer of electronic market making — and Chicago-based Getco.

Virtu makes markets in 36 countries and 12,000 financial instruments, continuously quoting buy and sell prices.

Source: Bloomberg

Junior Trader Stefan Panteleev

Varchev Traders

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.

WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.

Varchev Finance

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Virtu Financial said it would buy KCG Holdings in a $1.4 billion deal

London

Universal numbers