The firm said the deal is partly about reducing its balance sheet obligations
KCG Holdings has agreed to sell its futures commission
merchant (FCM) business, KCG Futures, to market-maker Wedbush
Securities, to shrink the firmâ€™s balance
According to a statement from KCG, the transaction is
expected to be completed by the end of the year, pending
regulatory approval, but terms of the deal were not
"The transaction not only reduces and simplifies KCG's
balance sheet, it also allows us to focus additional resources
and energy on our primary businesses of market making, agency
execution and trading venues," said Daniel Coleman, chief
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