Daniel Coleman, the chief executive of KCG Holdings, talks exclusively to Financial News about the challenges of merging a high-frequency trader with an institutional brokerage, forging a new category of securities firm and the group's master plan for Europe.
KCG was formed last July through a $1.4 billion merger between high-speed trading firm Getco and US broker Knight Capital. The deal followed an algorithmic trading error at Knight on August 1 2012, which cost the firm over $450 million in a matter of minutes and forced it to seek rescue from a group of firms including Getco.