KCG Holdings has launched its first trading algorithm for clients in Europe, as the group continues its attempts to move beyond its roots in market-making and retail broking and build a meaningful institutional trading business.

The algorithm, called Catch - a version of which was launched for US clients in 2014 - predicts stock price changes over microseconds and has been in beta testing for around six weeks, according to Rob Crane, who was hired from Goldman Sachs in 2015 to lead KCG's client execution services business in Europe.