The new broker/dealer arrangement is meant to simplify KCG’s subsidiary structure. In a statement, the firm says the consolidated operations will generate cost savings and release additional capital.
To create KCG Americas LLC, the brokerage operations of GETCO Execution Services LLC and GETCO Securities LLC were first consolidated into Knight Capital Americas LLC.
OCTEG LLC, a unit of GETCO, was then merged into Knight Capital Americas LLC, which was subsequently renamed KCG Americas LLC, effective December 31, 2013.
KCG Americas LLC is a Securities and Exchange Commission-registered broker/dealer and Commodity Futures Trading Commission-registered futures merchant, as well as a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.
KCG Holdings Inc. is a independent securities firm offering a range of trading services across asset classes, product types and time zones. More information is available at www.kcg.com.