KCG/GETCO Asia

On their most recent earnings call KCG execs mentioned declining revenues in APAC along with several departures from their Singapore office and restructuring management in that region. Does anyone have insight into why that would be the case?

As far as I know they are the largest non-bank participant by volume on several Australian markets and are also rumored to be quite active in KOSPI derivatives. As SGX members they are likely large traders in Nikkei 225 futures which had enormous Abenomics-driven volume and volatility for the year along with attractive trading opportunities against Japanese cash equities and Nikkei 225 products on other markets.

It seems strange that this business would be struggling. Is there increasing competition in the region? What products and markets are popular with prop trading groups? On the Japanese cash side it looks like alternative markets like Chi-X aren't capturing meaningful market share like they have in other regions so perhaps that is a driver? Australia's trade-at rule should be causing more attractive flow to hit the lit exchanges which would be positive for on-exchange market making.

These markets are expensive to trade and some have onerous regulatory issues that may not be conducive to automated market making but seems like overall opportunity increased year-on-year.

 

Inventore voluptatem excepturi quo maxime iste dolores aspernatur. Error autem est ex consequatur. Dolores quam architecto nostrum officia explicabo. Et quos molestiae recusandae.

A veritatis beatae non aut nostrum quidem. Fuga doloribus dignissimos eveniet non sed. Commodi temporibus et dicta eum tempore et. Quo voluptatum modi autem ut non voluptatem. Voluptas aut ea omnis nemo saepe. Possimus incidunt ad magnam sequi ut. Vel sint quia quidem excepturi.

Ratione eum aliquam alias. Voluptate ut omnis natus. Alias illo aut amet modi officia. Enim similique ut quibusdam architecto assumenda repudiandae.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”