LOS ANGELES, Sept. 8, 2014 (GLOBE NEWSWIRE) -- Wedbush Securities Inc., one of the nation's leading financial services providers, today announced the signing of an agreement to acquire certain assets and liabilities of KCG Americas LLC related to its agency futures business doing business now as KCG Futures. The transaction complements the firm's recent acquisition of Crossland, LLC and continues to enhance the firm's service offering by expanding its futures execution, clearing and custody capabilities.
"We are very excited to add a tremendous team from KCG to our organization. Their leadership position, diverse client base and shared commitment to superior client service made this an excellent fit as we build upon our services in this sector," said Andrew Koslow, Senior Vice President of Wedbush Securities. "The acquisition, our second this year, demonstrates our commitment to increasing our presence in the futures industry."
"KCG Futures is a leading independent futures broker and has maintained a solid reputation for high-quality client service," said Daniel Coleman of KCG. "This transaction is a positive development for everyone involved. KCG Futures will join the Wedbush team, where it can further position itself as a leader in the marketplace, allowing Wedbush to expand its futures clearing and execution services."
The transaction is subject to regulatory approvals, and other customary closing conditions, and is expected to close by year end.
About Wedbush Securities
Founded in 1955, Wedbush Securities is a leading financial firm that provides brokerage, clearing, investment banking, equity research, public finance, fixed income sales and trading, and asset management to individual, institutional and issuing clients. Headquartered in Los Angeles, with over 100 registered offices, the firm focuses on relentless service, client financial safety, continuity, and advanced technology. Wedbush Securities is the largest subsidiary of holding company WEDBUSH, Inc., which also includes affiliated firms Wedbush Asset Management, Wedbush Capital Partners, Wedbush Opportunity Partners, and Lime Brokerage LLC. Follow us on Twitter @Wedbush.
CONTACT: Matthew Chisum 213-688-4459 firstname.lastname@example.orgSource:Wedbush Securities