NEW YORK, July 20, 2017 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ:VIRT) today said it completed its acquisition of KCG Holdings, Inc. (NYSE:KCG) on Thursday, July 20, in a cash transaction valued at $20.00 per KCG share, or a total of approximately $1.4 billion.

“The leadership of both firms have worked tirelessly to develop a seamless integration plan to apply Virtu’s leading edge technology, risk management and rigorous cost discipline to KCG’s tremendous client franchises. We are excited to combine two exceptionally talented workforces to execute and deliver on this plan,” said Douglas Cifu, Virtu Financial Inc. Chief Executive Officer.

As previously announced, Mr. Cifu will continue to serve as Virtu’s Chief Executive Officer and Joseph Molluso will continue to serve as Virtu’s Chief Financial Officer. As of the close of the transaction, Virtu’s board of directors has been expanded to include two additional board members. Bob Greifeld, formerly the CEO of NASDAQ, has been appointed Chairman and will serve on the board’s newly formed Strategy Committee along with fellow new appointee Glenn Hutchins, co-founder of Silver Lake Partners. Founder and outgoing Chairman, Vincent Viola, will continue to serve on Virtu’s board of directors and Nominating and Corporate Governance Committee, and will also serve as Founder and Chairman Emeritus and on Virtu’s new Strategy Committee.

About Virtu Financial, Inc.

Virtu is a leading technology-enabled market maker and liquidity provider to the global financial markets. We stand ready, at any time, to buy or sell a broad range of securities and other financial instruments, and we generate revenue by buying and selling securities and other financial instruments and earning small amounts of money on individual transactions based on the difference between what buyers are willing to pay and what sellers are willing to accept, which we refer to as “bid/ask spreads,” across a large volume of transactions. We make markets by providing quotations to buyers and sellers in more than 19,000 securities and other financial instruments on more than 235 unique exchanges, markets and liquidity pools in 36 countries around the world. We believe that our broad diversification, in combination with our proprietary technology platform and low-cost structure, enables us to facilitate risk transfer between global capital markets participants by supplying liquidity and competitive pricing while at the same time earning attractive margins and returns. www.virtu.com