May. 2, 2014, 7:08 AM
May. 1, 2014, 5:30 PM
Apr. 10, 2014, 1:09 PM
- According to CNBC, the mutual fund giant is working with other investment firms to launch a new low-cost (and presumably HFT-free) stock trading alternative, with Chairman Ned Joshson said to be closely involved.
- Among those looking on: KCG Holdings (KCG -2.6%), CBOE Holdings (CBOE -1.6%), IntercontinentalExchange (ICE -1.3%), Nasdaq OMX (NDAQ +1%), Schwab (SCHW -3.9%), E*Trade (ETFC -3.5%), TD Ameritrade (AMTD -1.6%).
- Previously: "RBC nice" paying off
Apr. 4, 2014, 2:47 PM
- It's new session lows for many of the brokerage names amid the boosted scrutiny over high-frequency trading. The travails of the E*Trade, TD Ameritrade, and Schwab have been told, but also getting hit is Interactive Brokers (IBKR -8.5%) - which yesterday begain allowing customers to route orders through anti-HFT exchange IEX.
- Also turning to IEX is TradeStation.
- KCG Holdings (KCG -7.6%), INTL FCStone (INTL -4.3%).
Apr. 1, 2014, 2:48 AM
- The FBI is investigating whether high-frequency trading companies carry out insider trading or fraud by abusing fast-moving information they receive before other investors.
- The agency is also looking at whether traders use the information to act ahead of orders by other investors, and whether they're manipulating the market by placing a set of trades and then very quickly canceling them.
- News of the probe, which has been going on for a year, comes after author Michael Lewis accused high-speed trading firms of rigging the market in a new book called "Flash Boys."
- The investigation adds to inquiries by other authorities, including New York Attorney General Eric Schneiderman. The Commodity Futures Trading Commission and the SEC are reportedly looking at the matter as well.
- Related tickers: VIRT, KCG
Jan. 31, 2014, 7:06 AM
Jan. 31, 2014, 12:05 AM
Jan. 30, 2014, 5:30 PM
Nov. 25, 2013, 8:26 AM
Nov. 13, 2013, 1:09 PM
- Sandler O'Neill's Richard Repetto defends KCG Capital (KCG -0.7%) after the company last night said it would have to restate GETCO financial information. Knight Capital taking over the accounting process in the combined company is a good thing, he says, and should allow for any issues to be cleared up.
- After a sizable dip at the open, the stock's down just a bit at this point.
Nov. 12, 2013, 4:58 PM
- The $128M non-cash gain related to accounting surrounding the GETCO/Knight deal brings Q3 net income to $226.8M or $1.98 per share.
- KCG also files restated historical financial information for GETCO due to errors in the presentation of GETCO equity, earnings per unit, and cash flows, as well as an accounting charge for certain stock-related merger compensation.
- Press release.
- Previous Q3 earnings coverage.
Oct. 30, 2013, 7:13 AM| Comment!
Oct. 30, 2013, 12:05 AM| Comment!
Oct. 29, 2013, 5:30 PM| 1 Comment
Aug. 25, 2013, 2:45 AM
- BATS Global Markets (BATS) is reportedly in advanced negotiations to merge with Direct Edge Holdings in an all-stock deal that would create the second-largest exchange operator in the U.S. in terms of shares traded, putting it behind the NYSE (NYX) but ahead of Nasdaq (NDAQ).
- BATS CEO Joseph Ratterman is expected to become the head of the new firm, while Direct Edge boss William O'Brien would become president. The companies plan to continue operating all four of their U.S. stock-exchange platforms after the merger.
- Both firms are profitable, with BATS earning EBITDA of $101M in 2012.
- Direct Edge's owners include KCG Holdings (KCG), Goldman Sachs (GS), Citadel and the International Securities Exchange. Those of BATS include KCG also, as well as Bank of America (BAC), Citigroup (C), Credit Suisse (CS), Deutsche Bank (DB), JPMorgan (JPM) and Morgan Stanley (MS).
Aug. 7, 2013, 7:10 AM| Comment!
KCG vs. ETF Alternatives
KCG Holdings Inc is asecurities firm offering clients a range of services designed to address trading needs across asset classes, product types and time zones. It is also engagedin principal trading via exchange-based electronic market making.
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