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Virtu chases KCG in $1.3bn electronic tie-up

The potential combination of Virtu and KCG reflects tough times for securities trading firms

Virtu chases KCG in $1.3bn electronic tie-up
Photo: iStockphoto

The electronic trading firm KCG Holdings is reviewing a proposed takeover from Virtu Financial, in what would be a $1.3 billion deal to combine the two trading rivals.

KCG, created in 2013 by the takeover of Knight Capital by high-speed trading firm Getco, said on Wednesday that it had received an "unsolicited" proposal from Virtu.

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