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The evolution of Getco

Getco's $1.3bn bid for US broker Knight Capital has brought the proprietary trading firm’s subtle shift in strategy firmly into the public spotlight

High frequency trading was once a fiercely secretive industry. But, part by design and part by regulatory scrutiny, some of its biggest protagonists have come out of the shadows with client-facing businesses, industry lobby groups and the hire of well-groomed former bank and exchange executives.

No firm has played a bigger part in that story than Getco. On Wednesday, the Chicago-based firm made a very public statement of intent over its client-driven strategy, by offering $1.3bn to acquire NYSE-listed broker Knight Capital.

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