GEODESIC NETWORKS, LLC, A SUBSIDIARY OF KCG HOLDINGS, INC., FORMS JOINT VENTURE WITH WORLD CLASS WIRELESS
February 12 2015 - 8:05AM
GEODESIC
NETWORKS, LLC, A SUBSIDIARY OF KCG HOLDINGS, INC., FORMS JOINT
VENTURE WITH WORLD CLASS WIRELESS
JERSEY CITY, N.J. - February
12, 2015 - KCG Holdings, Inc. (NYSE: KCG) announced today
that its subsidiary, Geodesic Networks, LLC, and World Class
Wireless, LLC have created a joint venture, New Line Networks
LLC.
New Line Networks will explore opportunities to
leverage infrastructure investment, including re-selling network
bandwidth to industry participants and third party
vendors. Through this venture, New Line Networks will bring
together complementary network and communication infrastructure
while simultaneously providing additional data transmission
bandwidth to the marketplace. Financial terms were not
disclosed.
About KCG
KCG is a leading independent securities firm offering investors and
clients a range of services designed to address trading needs
across asset classes, product types and time zones. The firm
combines advanced technology with exceptional client service across
market making, agency execution and venues. KCG has multiple access
points to trade global equities, fixed income, currencies and
commodities via voice or automated execution. www.kcg.com
Certain statements contained
herein may constitute "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are typically identified by words such as "believe,"
"expect," "anticipate," "intend," "target," "estimate," "continue,"
"positions," "prospects" or "potential," by future conditional
verbs such as "will," "would," "should," "could" or "may," or by
variations of such words or by similar expressions. 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 strategic business combination (the "Mergers") of Knight
Capital Group, Inc. ("Knight") and GETCO Holding Company, LLC
("GETCO"), including, among other things, (a) difficulties and
delays in integrating the Knight and GETCO businesses or fully
realizing cost savings and other benefits, (b) the inability to
sustain revenue and earnings growth, and (c) customer and client
reactions to the Mergers; (ii) the August 1, 2012 technology issue
that resulted in Knight's broker-dealer subsidiary sending numerous
erroneous orders in NYSE-listed and NYSE Arca securities into the
market and the impact to Knight's business as well as actions taken
in response thereto and consequences thereof; (iii) the sale of
KCG's reverse mortgage origination and securitization business,
sale of KCG's futures commission merchant and the agreement to sell
KCG Hotspot; (iv) changes in market structure, legislative,
regulatory or financial reporting rules, including the increased
focus by regulators, the New York Attorney General, Congress 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; (v) past or future changes to
organizational structure and management; (vi) 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; (vii) KCG's ability to keep up with
technological changes; (viii) KCG's ability to effectively identify
and manage market risk, operational and technology risk, legal
risk, liquidity risk, reputational risk, counterparty and credit
risk, international risk, regulatory risk, and compliance risk;
(ix) the cost and other effects of material contingencies,
including litigation contingencies, and any adverse judicial,
administrative or arbitral rulings or proceedings; and (x) the
effects of increased competition and KCG's ability to maintain and
expand market share. The list above is not exhaustive. Readers
should carefully review the risks and uncertainties disclosed in
KCG's reports with the SEC, including, without limitation, those
detailed under "Risk Factors" in KCG's Annual Report on Form 10-K
for the year-ended December 31, 2013, under "Certain Factors
Affecting Results of Operations" in KCG's Quarterly Report on Form
10-Q for the period ended September 30, 2014 and other reports or
documents KCG files with, or furnishes to, the SEC from time to
time.
CONTACTS
Sophie
Sohn |
Jonathan
Mairs |
Communications & Marketing |
Investor
Relations |
312-931-2299 |
201-356-1529 |
media@kcg.com |
jmairs@kcg.com |
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: KCG Holdings, Inc. via Globenewswire
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