KCG BONDPOINT
EXPANDS INSTITUTIONAL REACH WITH BLOOMBERG CONNECTION
Enhances Workflow Solution
Follows Record Setting Volume Growth for BondPoint
Platform
JERSEY CITY, N.J. - October 20,
2016 - KCG Holdings, Inc. (NYSE: KCG) today announced that KCG
BondPoint ("BondPoint"), the Company's electronic fixed income
trading venue, is expanding its integration with buy-side OMS
providers through a new integrated workflow with Bloomberg.
Beginning today, Bloomberg TSOX clients, and those who use
Bloomberg AIM for post-trade automation, will be able to source and
manage BondPoint's deep pool of Credit and Municipal bond liquidity
directly from their Bloomberg terminals.
The integration of Bloomberg TSOX with BondPoint
follows two consecutive quarters during which average daily fixed
income par value traded on BondPoint exceeded $200 million. This
51% year-over-year growth is attributable to market share gains in
corporates and municipals, significant odd-lot bond trading
activity, and a continuing trend favoring electronic fixed income
trading by both sell-side and buy-side firms.
"Our goal is to provide seamless access to the new
opportunities in the electronic fixed income market to a broader
audience," said Greg Tusar, Head of Execution Services and
Platforms at KCG. "In allying with Bloomberg, we are taking an
important step toward providing our Institutional clients with
immediate access to more liquidity via cutting-edge workflow
solutions."
F.A. Romano, Head of KCG BondPoint Institutional,
added: "As one of the most widely-utilized fixed income staging
utilities, TSOX provides end-users with pre-trade transparency and
post-trade integration. Adding BondPoint to the TSOX portal enables
clients to access a new, incremental pool of diverse and
immediately executable securities as part of their existing
workflow."
"We are seeing a significant cultural shift in the
fixed income market, with diversifying liquidity sources and the
rise in electronic trading of corporate bonds spurring great
interest in new solutions," said Kevin McPartland, Principal
in Market Structure and Technology at Greenwich Associates.
"Investors now more than ever need trading technology that provides
integrated access to unique sources of quality liquidity."
The integration of KCG BondPoint into TSOX will
roll out for live client trading over the course of the next
several months. For a complete list of connectivity options for KCG
BondPoint, please visit: https://www.kcg.com/venues/bondpoint
KCG BondPoint, a registered ATS, features advanced
technology with end-to-end workflow automation, access to a deep
and diverse pool of liquidity across multiple fixed income asset
classes, and low transaction costs. The venue's objective is to
provide clients with efficient bond market access, transparent
price discovery, and superior trade execution. KCG BondPoint links
more than 400 financial services firms to approximately 200,000
live and executable bids and offers every day.
About KCG
KCG is a leading independent securities firm offering investors a
range of services designed to address trading needs across asset
classes, product types and time zones. The firm combines advanced
technology with specialized client service across market making,
agency execution and venues and also engages in principal trading
via exchange-based market making. KCG has multiple access points to
trade global equities, fixed income, options, currencies and
commodities via voice or automated execution. www.kcg.com
Certain statements
contained herein and the documents incorporated by reference
containing the words "believes," "intends," "expects,"
"anticipates," and words of similar meaning, may constitute
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. These "forward-looking statements"
are not historical facts and are based on current expectations,
estimates and projections about KCG's industry, management's
beliefs and certain assumptions made by management, many of which,
by their nature, are inherently uncertain and beyond our control.
Any forward-looking statement contained herein speaks only as of
the date on which it is made. Accordingly, readers are cautioned
that any such forward-looking statements are not guarantees of
future performance and are subject to certain risks, uncertainties
and assumptions that are difficult to predict including, without
limitation, risks associated with: (i) the inability to manage
trading strategy performance and grow revenue and earnings; (ii)
the receipt of additional payments from the sale of KCG Hotspot
that are subject to certain contingencies; (iii) changes in market
structure, legislative, regulatory or financial reporting rules,
including the increased focus by Congress, federal and state
regulators, the SROs and the media on market structure issues, and
in particular, the scrutiny of high frequency trading, alternative
trading systems, market fragmentation, colocation, access to market
data feeds, and remuneration arrangements such as payment for order
flow and exchange fee structures; (iv) past or future changes to
KCG's organizational structure and management; (v) KCG's ability to
develop competitive new products and services in a timely manner
and the acceptance of such products and services by KCG's customers
and potential customers; (vi) KCG's ability to keep up with
technological changes; (vii) KCG's ability to effectively identify
and manage market risk, operational and technology risk,
cybersecurity risk, legal risk, liquidity risk, reputational risk,
counterparty and credit risk, international risk, regulatory risk,
and compliance risk; (viii) the cost and other effects of material
contingencies, including litigation contingencies, and any adverse
judicial, administrative or arbitral rulings or proceedings; (ix)
the effects of increased competition and KCG's ability to maintain
and expand market share; (x) the announced plan to relocate KCG's
global headquarters from Jersey City, NJ to New
York, NY; and (xi) KCG's ability to complete the sale or
disposition of any or all of the assets or businesses that are
classified as held for sale. The list above is not exhaustive.
Because forward looking statements involve risks and uncertainties,
the actual results and performance of KCG may materially differ
from the results expressed or implied by such statements. Given
these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. Unless otherwise
required by law, KCG also disclaims any obligation to update its
view of any such risks or uncertainties or to announce publicly the
result of any revisions to the forward-looking statements made
herein. Readers should carefully review the risks and uncertainties
disclosed in KCG's reports with the U.S. Securities and
Exchange Commission ("SEC"), including those detailed in "Risk
Factors" in Part I, Item 1A of KCG's Annual Report
on Form10-K for the year
ended December 31, 2015, "Legal Proceedings" in Part I, Item
3, under "Certain Factors Affecting Results of Operations" in
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in Part II, Item 7, in "Quantitative and
Qualitative Disclosures About Market Risk" in Part II, Item 7A, and
in other reports or documents KCG files with, or furnishes to,
the SEC from time to time. This information should be
read in conjunction with KCG's Consolidated Financial Statements
and the Notes thereto contained in its Annual Report on Form 10-K,
Quarterly Report on Form 10-Q, and in other reports or documents
KCG files with, or furnishes to, the SEC from time to
time.
CONTACTS
Sophie
Sohn |
Jonathan
Mairs |
Communications & Marketing |
Investor
Relations |
312-931-2299 |
201-356-1529 |
media@kcg.com |
jmairs@kcg.com |
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: KCG Holdings, Inc. via Globenewswire
KCG Holdings, Inc. (NYSE:KCG)
Historical Stock Chart
From Mar 2024 to Apr 2024
KCG Holdings, Inc. (NYSE:KCG)
Historical Stock Chart
From Apr 2023 to Apr 2024