Getco, Knight records $104 million loss in second quarter as costs mount

Merger related costs drag down profits for newly formed company

Knight Capital Group and its acquirer Getco together lost $104 million in the second quarter, largely due to restructuring costs and expenses stemming from the trading firms' merger.

KCG Holdings, the new company formed by the deal, alongside the results disclosed that it had set aside $10 million as a legal reserve as the firm deals with shareholder lawsuits and a regulatory investigation into trading errors at Knight last summer.

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110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the BrinkExternal link

110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink