JERSEY CITY, New Jersey and
CHICAGO, July 1, 2013 /PRNewswire/ -- KCG
Holdings, Inc. today announced the completion of the previously
announced merger whereby Knight Capital Group, Inc. (NYSE: KCG)
("Knight") and GETCO Holding Company, LLC ("GETCO") have been
combined as part of KCG Holdings, Inc., a new publicly traded
holding company. The merger, which was announced on December 19, 2012, was approved by the respective
stockholders and unitholders of both companies at special meetings
held June 25, 2013.
"We're pleased to announce the completion of a merger that
brings together the exceptional talent of each business to create a
leading global securities firm. KCG will connect investors and
markets worldwide through agency execution, market making, and the
operation of multi-asset class trading venues," said Daniel Coleman, Chief Executive Officer, KCG.
"As one KCG, our focus is on strategically blending human capital
with superior technology to create flexible solutions that meet our
clients' evolving needs."
Knight's and GETCO's legacy operations and offerings will be
combined with limited changes to current products and services
expected in the near term. KCG will formally launch
operations under its new corporate identity on July 2, 2013, with a new website and brand, as
well as a combined NYSE Designated Market Maker unit.
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 exceptional client service across market making,
agency execution and venues. KCG has multiple access points to
trade global equities, fixed income, currencies and commodities via
voice or automated execution. www.kcg.com
Cautionary Note Regarding Forward Looking Statements
Certain statements contained herein may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are typically identified by words such as "believe,"
"expect," "anticipate," "intend," "target," "estimate," "continue,"
"positions," "prospects" or "potential," by future conditional
verbs such as "will," "would," "should," "could" or "may," or by
variations of such words or by similar expressions. These
"forward-looking statements" are not historical facts and are based
on current expectations, estimates and projections about the
parties' industry, management beliefs and certain assumptions made
by management, many of which, by their nature, are inherently
uncertain and beyond our control. 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
merger of Knight and GETCO, including, among other things, (a)
difficulties and delays in integrating the Knight and GETCO
businesses or fully realizing cost savings and other benefits, (b)
the inability to sustain revenue and earnings growth, and (c)
customer and client reactions; (ii) the August 1, 2012 technology
issue at Knight that resulted in Knight's broker-dealer subsidiary
sending numerous erroneous orders in NYSE-listed and NYSE Arca
securities into the market and the impact to Knight's capital
structure and business as well as actions taken in response thereto
and consequences thereof; (iii) Knight's ability to recover all or
a portion of the damages that are attributable to the manner in
which NASDAQ OMX handled the Facebook IPO; (iv) changes in market
structure, legislative, regulatory or financial reporting rules;
and (v) past or future changes to organizational structure and
management. Readers should carefully review the risks and
uncertainties disclosed in KCG's and Knight's reports with the SEC,
including, without limitation, those detailed under "Certain
Factors Affecting Results of Operations" and "Risk Factors" in
Knight's Annual Report on Form 10-K for the year-ended December 31,
2012 and in Knight's Quarterly Report on Form 10-Q/A for the
quarter ended March 31, 2013, and in other reports or documents KCG
files with, or furnishes to, the SEC from time to time and those
detailed in the Joint Proxy Statement / Prospectus of KCG related
to the merger of Knight and GETCO under the heading "Cautionary
Statement Regarding Forward Looking Information" and "Risk
Factors," among others.