KCG CEO Wants Wholesale Market Making to Go Beyond Stocks

(This article originally appeared on Bloomberg)

KCG Holdings Inc., one of the top market makers who handle stock trades on behalf of retail brokerages, said the practice would work well in currencies, Treasuries and other assets.

“I think it’s a good model,” Coleman said during a conference call with analysts to discuss the company’s second-quarter earnings. “What I’d like to see over the next three to five years is this model expand beyond U.S. equity retail,” he said. “There could be specialists for executing other products, whether it’s FX or Treasuries or things beyond retail.”

The Department of Justice “has the right to look at anything they want,” Coleman said Thursday. KCG’s focus, he added, will be on “providing the very best execution, reviewing how we approach things, making sure we’re doing things the right way, and making sure we’re doing what we say we’re doing. And that’s really all we can do.”

KCG’s shares fell 2.2 percent to $14.02 at 2:18 p.m. New York time following the second-quarter earnings report.

(Visited 22 times, 1 visits today)

Related articles

  1. Hudson River-Sun deal shows today's trading biz is like the oil patch of 20 years ago.

  2. Market maker will develop warrant and futures for traders.

  3. A look back at the history and evolution of market makers.

  4. DV Trading will support Foreign Exchange pairs liquidity on OTCXN’s network.

  5. Latest News

    Virtu Closes KCG Deal

    Combined company is one of the largest global liquidity providers.