Getco Newly Public in Knight Cuts High-Frequency Focus, CEO Says
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Getco LLC, publicly traded for the first time as KCG Holdings Inc. after acquiring Knight Capital Group Inc., will see its focus on high-frequency trading reduced by the merger, according to the chief executive officer.
The Chicago-based firm is evolving into a technology provider focused on cutting execution costs for 650 broker-dealer and 2,000 institutional clients, rather than proprietary trading, Daniel Coleman said in an interview with Erik Schatzker and Scarlet Fu on Bloomberg Television’s “Market Makers.”