E-trading firm Virtu Financial is looking to buy KCG Holdings for $1.2 billion, CNBC reports, citing Dow Jones.
Shares in KCG jumped 23% on the news.
KCG, founded in 2013 and based in New York, is a high-frequency trading firm that also engages in electronic execution, institutional sales and trading, and market making.
Virtu, founded in 2008, is one of the largest high-frequency trading firms and operates on a number of exchanges, markets, and dark pools.
More to come...
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