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High-Speed Trading Firm Virtu Financial Is Buying Rival KCG

April 20, 2017, 12:26 PM UTC

Virtu Financial said it would buy rival trading firm KCG Holdings Inc for about $1.4 billion in cash.

Virtu Financial’s offer of $20 per share represents a 12.7 percent premium to KCG’s Wednesday close.

This is a developing story and will be updated.