With their algo-bots gone wild yesterday - resulting in a $440 million loss, KCG is near death. Whether the remains get merged/picked up by some other company, is largely irrelevant. What is important, is that the mainstream is again being reminded of the damage that such companies do to the wider confidence in the broader equity markets.
KCG, daily
Summary
I have little other than contempt for those companies that use HFTs to front-run everyone out there. It looks like Knight will indeed implode in the next day or so. The loss of one algo-bot company...is something to celebrated by all retail traders.
Good riddance KCG.
