The company has integrated its operation and formed a new global financial services firm providing agency brokerage for clients globally.
The agreement, which was initially inked on 19 December 2012, was approved by the respective stockholders and unit holders of both organizations at special meetings held on 25 June 2013.
Knight Capital Group CEO said, "KCG will connect investors and markets worldwide through agency execution, market making, and the operation of multi-asset class trading venues."
Existing Knight share holders (other than GETCO) will receive $3.75 per share in cash or one share of common stock of the new holding company, based on the agreement.
GETCO members will receive 233 million shares of the new enterprise, while the 57 million shares of Knight currently owned by GETCO will be retired.
On 2 July 2013, KCG will formally launch operations under its new corporate identity with a new website and brand, as well as a combined NYSE Designated Market Maker unit.
Sandler O’Neill & Partners and Jefferies & Company served as the financial advisor to Knight and Getco, respectively.
Wachtell, Lipton, Rosen & Katz offered legal advice to Knight, while Sullivan & Cromwell provided legal advice to Getco.
