Trading Firm Virtu Financial To Buy Rival KCG For US$1.4 Billion

Virtu Financial Inc (VIRT.O) said it would buy rival KCG Holdings Inc (KCG.N) in a US$1.4 billion deal that brings together two major U.S. electronic trading and market-making firms.

 

The deal comes at a difficult time for high-frequency trading as low volatility squeezes the profits it can make from rapid-fire trades.

 

Read the full story on Reuters here.

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