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asked Apr 17 by AndrewLincoln

What about KCGs financial condition?

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asked Apr 21 by Darkwood (6,530 points)

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answered Apr 21 by Josh (5,560 points)
selected Apr 21 by Darkwood
 
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As of March 31, 2017, KCG had $669.9 million in cash and cash equivalents and total outstanding debt of $455.2 million. KCG had $1.35 billion in stockholders’ equity, equivalent to a book value of $20.21 per share and tangible book value of $18.61 per share based on total shares outstanding of 66.7 million, including restricted stock units.

During the first quarter of 2017, KCG repurchased 0.9 million shares for approximately $13.3 million under the Company’s stock repurchase program.

KCG’s headcount was 923 full-time employees at March 31, 2017, compared to 952 at December 31, 2016.

Due to the announced merger with Virtu Financial, LLC, KCG will not host a conference call on the first quarter of 2017.
commented Apr 21 by Josh (5,560 points)
They've done a great job.
commented Apr 21 by Darkwood (6,530 points)
Ok, but what about market making segment?
commented Apr 21 by Josh (5,560 points)
Well,  Market Making segment encompasses direct-to-client and non-client, exchange-based market making across multiple asset classes and is an active participant in all major cash, options and futures markets in the U.S., Europe and Asia. During the first quarter of 2017, the segment generated total revenues of $174.7 million and pre-tax income of $18.0 million.

In the first quarter of 2017, the U.S. equity market remained uncharacteristically calm. For the quarter, realized intraday volatility for the S&P 500 averaged 5.7 basis points, average daily consolidated U.S. equity dollar volume declined 11.7% year over year and the average weighted spread for Russell 3000 stocks tightened more than one full basis point from a year ago. Retail investors were the exception to the broader market. For the quarter, average daily gross SEC Rule 605 U.S. equity dollar volume rose 12.0% year over year, retail investors committed an estimated $59.5 billion in net inflows to U.S. equities and average daily over-the-counter (OTC) trades rose 54.4% from a year ago.
commented Apr 21 by Darkwood (6,530 points)
Ok, thank you on your answer.
Have a nice day!

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