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Wednesday, January 28, 2015

KCG to sell forex trading platform Hotspot to BATS Global, (NYSE: KCG)

Financial services provider KCG Holdings Inc said it will sell its foreign exchange trading platform, KCG Hotspot, to BATS Global Markets for $365 million in cash. The transaction is expected to increase KCG's tangible book value by about $2 per share upon close.

KCG Holdings, Inc., is an independent securities firm. Shares of KCG fell by 0.33% or $-0.04/share to $11.97. In the past year, the shares have traded as low as $9.48 and as high as $12.55. On average, 333503 shares of KCG exchange hands on a given day and today's volume is recorded at 203394.