Deals
KCG Buys Swedish Broker Neonet to Expand its Europe Business
- Takeover of the execution specialist may complete this year
- KCG didn’t disclose price of the the Neonet acquisition
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Algorithmic trading firm and brokerage KCG Holdings Inc. is buying 20-year-old stockbroker Neonet Securities AB as the U.S. company seeks to expand its presence in Europe.
The deal is expected to close later this year, according to a statement on Wednesday. Stockholm-based Neonet provides algorithmic trading, smart order routing and sales trading in European equities. KCG didn’t disclose the price of the acquisition.