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KCG Holdings, Inc. (KCG)

  • Aug. 6, 2012, 7:28 AM
    Knight Capital (KCG) confirms (8-K) a group of investors have agreed to provide it financing to the tune of $400M 2% preferreds convertible into 267M shares (98.2M currently outstanding), meaning a conversion price of $1.50. Shares -38% premarket to $2.52. (earlier)
  • Aug. 6, 2012, 3:14 AM
    SEC Chairperson Mary Schapiro rejected pleas from Knight Capital (KCG) CEO Thomas Joyce to cancel many of the trades his company had erroneously made last week, leaving it with $4.5B of securities it hadn't planned to buy. Schapiro's stance is a consequence of the 2010 flash crash, when the SEC was accused of arbitrariness in canceling transactions. (see investment)
  • Aug. 6, 2012, 3:03 AM
    Knight Capital (KCG) will reportedly receive a $400M financing lifeline from a group of investors that includes Blackstone (BX), TD Ameritrade (AMTD), Stifel Nicolas (SF) and Jefferies Group (JEF). The consortium is expected to receive convertible preferred stock with a conversion price of $1.50/share and carry a coupon of 2%, giving it 70-75% of Knight Capital.
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  • Aug. 3, 2012, 3:08 PM
    Knight Capital (KCG +59%) has reportedly drawn initial interest from KKR, TPG Capital, Silver Lake, and Bank of America among others, as it opens its books in a bid to survive.
  • Aug. 3, 2012, 3:01 PM
    It was Goldman Sachs that took over Knight Capital's (KCG) positions following the software glitch on Wednesday, a faux-pas that ended up costing Knight $440M.
  • Aug. 3, 2012, 2:38 PM
    Knight Capital (KCG +63%) soars as TD Ameritrade (AMTD) begins again routing trades to the firm. Knight is a "good and trusted partner." (PR)
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  • Aug. 3, 2012, 9:15 AM
    Premarket gainers: OPEN +19%. MELI +17%. SKUL +13%. LNKD +11%. ATPG +11%. VHC +10%. KOG +10%. KCG +10%. STEM +8%. SQNM +8%. DB +7%. ING +7%. WFR +7%. E +6%. SI +5%. MT +5%. ATAX +5%. BCS +5%.
    Losers: ZIP -35%. HNT -24%. BODY -18%. MCP -15%. XIDE -13%. REE -8%. GLUU -7%. ONNN -7%.
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  • Aug. 2, 2012, 6:36 PM
    Knight Capital (KCG -62.8%) -12.4% AH on bankruptcy fears, even as it's reported  Goldman and Sandler O'Neill have been hired to find a buyer. Knight's books have been opened up to P-E firms and at least one rival (Virtu Financial?). Bloomberg Businessweek provides the back-story for Knight's $440M loss. Between 9:30 and 10:00 AM ET yesterday, one of Knight's algorithms went haywire, pushing through 4M extra trades (550M shares) related to nearly 150 stocks. Update: Fox Business claims Virtu Financial isn't interested.
  • Aug. 2, 2012, 12:54 PM
    Surely on the brink of not surviving, Knight Capital (KCG -55%) is in discussions with Virtu Financial about a merger or capital infusion, according to sources (likely from the Knight camp). Virtu is also a player in the high-speed trading arena. (earlier)
  • Aug. 2, 2012, 9:10 AM
    Premarket gainers: UNTD +16%. FSLR +16%. CAVM +11%. GMCR +10%. GILD +8%. GPS +7%. VHC +7%. PWR +7%. YGE +7%.
    Losers: KCG -57%. HALO -56%. MTG -40%. ARO -28%. SLTM -15%. LPSN -15%. ANF -15%. INCY -13%. VE -11%. BBVA -10%. SEE -10%. MWW -8%. RDN -7%. SAN -7%. NAV -7%. BWP -5%. BMY -5%. MTL -5%.
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  • Aug. 2, 2012, 8:26 AM
    Knight Capital (KCG) announces a $440M loss from yesterday's glitch which was the result of the installation of trading software (now removed). Shares disappearing, -50% premarket after a 33% decline yesterday. (PR)
  • Aug. 1, 2012, 3:16 PM
    The NYSE will cancel certain trades in the following stocks following the snafu with Knight Capital (KCG -27.5%) this morning, reports Bloomberg: WZE, CO, EJ, ARC, and KWK.
  • Aug. 1, 2012, 12:39 PM
    The NYSE is reviewing trades in 148 stocks (Excel spreadsheet) from this morning due to the reported glitch at Knight Capital (KCG -20%). Not on the list are two utility ETFs - XLU and VPU - which also saw volatile price moves and spiking volume.
  • Aug. 1, 2012, 10:33 AM
    Knight Capital (KCG -10%) plunges on word of technical issues with a trading algorithm. The NYSE apparently halted (then resumed) trading in a number of stocks swung around by the issue. Among those reportedly affected was Berkshire Hathaway (BRK.B).
  • Jul. 22, 2012, 4:53 AM
    Nasdaq OMX (NDAQ) has improved its offer of compensation to brokers and market makers that lost money because of Facebook's (FB) botched trading debut to a total of $62M in cash from $40M mostly in reduced trading costs. However, the new amount is still probably far below the losses suffered, which include $35.4M for Knight Capital (KCG), and a reported $20M for Citigroup (C) and $350M for [[UBS].
  • Jul. 18, 2012, 6:32 AM
    Knight Capital Group (KCG): Q2 EPS of $0.04 may not be comparable to consensus of $0.11. Revenue of $289.3M (-11.3% Y/Y) in-line. (PR)
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Company Description
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.