Knight Capital Group Completes Acquisition of the Futures Division of Penson
Financial Services, Inc.
JERSEY CITY, N.J., June 1, 2012
JERSEY CITY, N.J., June 1, 2012 /PRNewswire/ --Knight Capital Group, Inc.
(NYSE Euronext: KCG) today announced the completion of the acquisition of
certain assets and liabilities of Penson Futures, the futures division of
Penson Financial Services, Inc., a subsidiary of Penson Worldwide, Inc.
"With the acquisition of Penson Futures, Knight expands capabilities and adds
clients in an increasingly important asset class," said Tom Joyce, Chairman
and Chief Executive Officer, Knight Capital Group. "We'll work to build a
greater presence in futures through the application of advanced trading
technologies and superior client service."
The Futures Commission Merchant (FCM) has been renamed Knight Futures™ and
will operate as a division of Knight Execution & Clearing Services LLC. The
division provides futures execution, clearing and custody services to
facilitate transactions among brokers, institutions and non-clearing FCMs on
major U.S. and European futures and options exchanges. The division also
offers risk management and consultation services and operates an electronic
futures trading platform for professional traders and individual investors.
Knight is in the process of assuming the exchange seats and memberships of
Penson Financial Services, Inc. at the Chicago Board of Trade, the Chicago
Mercantile Exchange, the Kansas City Board of Trade, NYSE Euronext LIFFE, the
Minneapolis Grain Exchange, NYMEX, COMEX, ICE Futures US, ICE Clear US, ICE
Futures Europe, ICE Clear Europe, NYSE LIFFE, Eurex, One Chicago and
Knight Capital Group (NYSE Euronext: KCG) is a global financial services firm
that provides access to the capital markets across multiple asset classes to a
broad network of clients, including buy- and sell-side firmsand corporations.
Knight is headquartered in Jersey City, N.J. with a global presence across the
Americas, Europe, and the Asia Pacific region. For further information about
Knight, please visit www.knight.com.
Certain statements contained herein may constitute "forward-looking
statements" within the meaning of 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 the Company's
industry, management's 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 related to the corporate restructuring in the third
quarter 2011, including the ability to recognize anticipated cost savings, the
possibility of unexpected costs or expenditures, and the impact of the
restructuring on the Company's businesses and results of operations, risks
associated with changes in market structure, legislative, regulatory and
financial rules changes, risks associated with the Company's changes to its
organizational structure and management and the costs, integration,
performance and operation of businesses recently acquired or developed
organically, or that may be acquired or developed organically in the future.
Readers should carefully review the risks and uncertainties disclosed in the
Company's reports with the U.S. Securities and Exchange Commission (SEC),
including, without limitation, those detailed under the headings "Certain
Factors Affecting Results of Operations" and "Risk Factors" in the Company's
Annual Report on Form 10-K for the year-ended December 31, 2011, and in other
reports or documents the Company files with, or furnishes to, the SEC from
time to time. This information should also be read in conjunction with the
Company's Consolidated Financial Statements and the Notes thereto contained in
the Company's Annual Report on Form 10-K for the year-ended December 31, 2011,
and in other reports or documents the Company files with, or furnishes to, the
SEC from time to time.
SOURCE Knight Capital Group, Inc.
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