Knight Capital and Getco merger to close in Q2


High-frequency trading firm Getco is to acquire Hotspot FX owner Knight Capital in a deal valued at roughly $1.4 billion, the firm announced on December 19.

The deal comes five months after Knight Capital was hit by a damaging software glitch on August 1 that cost the firm $440 million and sent its share price plummeting. The merger, which is expected to close in the second quarter, will see Getco chief executive Daniel Coleman become chief executive of the combined company, while Knight chief e