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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.
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.