|KCG'S NEWLY LAUNCHED MATCHIT EMPOWERS INVESTORS WITH ACCESS TO MORE INFORMATION, SIMPLIFIES TRADING EXPERIENCE|
KCG'S NEWLY LAUNCHED MATCHIT EMPOWERS INVESTORS WITH ACCESS TO MORE INFORMATION, SIMPLIFIES TRADING EXPERIENCE
JERSEY CITY, N.J. - June 17, 2015 - KCG Holdings, Inc. (NYSE: KCG) announced today the launch of its newly re-branded and updated equities trading venue, MatchIt. MatchIt represents the next evolution in KCG's U.S. equities alternative trading system ("ATS"), which now offers investors more comprehensive data to make better informed trading decisions.
"One of KCG's strengths is our ability to source liquidity. MatchIt provides the firm and its subscriber clients with another way to access liquidity in today's marketplace," commented Erica Attonito, who oversees MatchIt. "Plus, as supporters of the competition and innovation embodied by Reg ATS, we believe there is value in operating a venue that provides clients with the option of crossing their orders with other non-displayed client orders in a transparently structured, regulated setting."
With MatchIt, KCG is making a broad swath of venue-specific information widely available on its website, including the current and historical form ATS, daily volume, pricing, subscriber agreement, and operational specs. KCG will also continue to invest in MatchIt's technology to enhance the trading venue's functionality and capabilities for clients.
Previously, the ATS was registered and marketed under the name "Knight Match". Following the 2013 merger of Knight Capital Group and Getco LLC, the resulting firm, KCG, had two US equity ATSs: Knight Match and GetMatched. In 2014, KCG decommissioned GetMatched in order to reduce fragmentation of order flow and focus on the evolution of the Knight Match ATS. This rebranding represents the first phase of that process.
Certain statements contained herein may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. 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 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 strategic business combination (the "Mergers") of Knight Capital Group, Inc. ("Knight") and GETCO Holding Company, LLC ("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 to the Mergers; (ii) the August 1, 2012 technology issue 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 business as well as actions taken in response thereto and consequences thereof; (iii) the sale of KCG's reverse mortgage origination and securitization business, sale of KCG's futures commission merchant and the agreement to sell KCG Hotspot; (iv) changes in market structure, legislative, regulatory or financial reporting rules, including the increased focus by regulators, the New York Attorney General, Congress 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; (v) past or future changes to organizational structure and management; (vi) 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; (vii) KCG's ability to keep up with technological changes; (viii) KCG's ability to effectively identify and manage market risk, operational and technology risk, legal risk, liquidity risk, reputational risk, counterparty and credit risk, international risk, regulatory risk, and compliance risk; (ix) the cost and other effects of material contingencies, including litigation contingencies, and any adverse judicial, administrative or arbitral rulings or proceedings; and (x) the effects of increased competition and KCG's ability to maintain and expand market share. The list above is not exhaustive. Readers should carefully review the risks and uncertainties disclosed in KCG's reports with the SEC, including, without limitation, those detailed under "Risk Factors" in KCG's Annual Report on Form 10-K for the year-ended December 31, 2013, under "Certain Factors Affecting Results of Operations" in KCG's Quarterly Report on Form 10-Q for the period ended September 30, 2014 and other reports or documents KCG files with, or furnishes to, the SEC from time to time.