GETCO

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GETCOGeometry and Topology in Concurrency Theory
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Getco unit holders are thus expected to receive some 76.7m shares of KCG and 24.4m warrants to acquire additional common stock.
Coleman joined Getco in 2010 after parting ways with UBS.
Boyle, previously executive vice president, director of US options exchanges at exchange group NYSE Euronext, will join GETCO in January 2011.
Getco unit holders are thus expected to receive some 76.7m shares of KCG and 24.4m warrants to acquire additional common stock, compared to 233m KCG shares and 75m warrants under the original deal.The value of the total consideration to be paid to Knight and Getco shareholders will remain the same.
GETCO, which trades on more than 50 markets in the Americas, Europe and Asia is already a registered market maker on US exchanges Nasdaq, NYSE Arca, and BATS Exchange, and has designated market maker status on European trading venue NYSE Euronext.
Completion is still subject to securing the approval of Knight shareholders and Getco unitholders, additional regulatory clearances, registration and listing in New York of the shares to be issued as part of the merger, as well as other conditions.
Daniel Coleman, Getco's current CEO will head the new company as chief executive.
"I look forward to joining GETCO's team in leveraging the firm's technology and risk management leadership to help investors solve their liquidity and trade execution needs," said Coleman in a statement.
Getco's winning bid is two-thirds cash and values the target at USD3.75 apiece, according to the insiders.
The crossing network, GETCO Execution Services (GES), will allow brokers to execute flow from their buy-side clients against liquidity generated by GETCO's market making operations.
As part of the deal, Getco Holding Company LLC will be combined with Knight under a new publicly traded entity, which will be led by the buyer's head Daniel Coleman as CEO, while Thomas Joyce of the target firm will act as executive chairman of the board.