JERSEY CITY, N.J., June 1, 2012 /PRNewswire/ -- Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced the completion of the acquisition of certain assets and liabilities of Penson Futures, the futures division of Penson Financial Services, Inc., a subsidiary of Penson Worldwide, Inc. (NASDAQ: PNSN).
"With the acquisition of Penson Futures, Knight expands capabilities and adds clients in an increasingly important asset class," said Tom Joyce, Chairman and Chief Executive Officer, Knight Capital Group. "We'll work to build a greater presence in futures through the application of advanced trading technologies and superior client service."
The Futures Commission Merchant (FCM) has been renamed Knight Futures™ and will operate as a division of Knight Execution & Clearing Services LLC. The division provides futures execution, clearing and custody services to facilitate transactions among brokers, institutions and non-clearing FCMs on major U.S. and European futures and options exchanges. The division also offers risk management and consultation services and operates an electronic futures trading platform for professional traders and individual investors.
Knight is in the process of assuming the exchange seats and memberships of Penson Financial Services, Inc. at the Chicago Board of Trade, the Chicago Mercantile Exchange, the Kansas City Board of Trade, NYSE Euronext LIFFE, the Minneapolis Grain Exchange, NYMEX, COMEX, ICE Futures US, ICE Clear US, ICE Futures Europe, ICE Clear Europe, NYSE LIFFE, Eurex, One Chicago and LCH.Clearnet.About Knight Knight Capital Group (NYSE Euronext: KCG) is a global financial services firm that provides access to the capital markets across multiple asset classes to a broad network of clients, including buy- and sell-side firms and corporations. Knight is headquartered in Jersey City, N.J. with a global presence across the Americas, Europe, and the Asia Pacific region. For further information about Knight, please visit www.knight.com. Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict including, without limitation, risks related to the corporate restructuring in the third quarter 2011, including the ability to recognize anticipated cost savings, the possibility of unexpected costs or expenditures, and the impact of the restructuring on the Company's businesses and results of operations, risks associated with changes in market structure, legislative, regulatory and financial rules changes, risks associated with the Company's changes to its organizational structure and management and the costs, integration, performance and operation of businesses recently acquired or developed organically, or that may be acquired or developed organically in the future. Readers should carefully review the risks and uncertainties disclosed in the Company's reports with the U.S. Securities and Exchange Commission (SEC), including, without limitation, those detailed under the headings "Certain Factors Affecting Results of Operations" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year-ended December 31, 2011, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time. This information should also be read in conjunction with the Company's Consolidated Financial Statements and the Notes thereto contained in the Company's Annual Report on Form 10-K for the year-ended December 31, 2011, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time. SOURCE Knight Capital Group, Inc.
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