Nasdaq OMX ha defended its proposed $62 million compensation offer to firms affected by the botched Facebook IPO, describing the package, in a letter to the SEC, as "fair and equitable".
Knight Capital Group has given support to Nasdaq OMX's proposal to compensate brokers affected by the exchange's mismanagement of the Facebook IPO.
Effective Monday, Aug. 13, 2012, all New York Stock Exchange (NYSE) and NYSE MKT securities as well as staff, operations and systems responsibility will return to the Designated Market Maker (DMM) unit of Knight Capital Americas LLC from GETCO LLC in light of the completion of Knight Capital's recapitalization plan.
Knight Capital looks set to survive last week's costly trading technology meltdown thanks to a $400 million rescue package put together by a group of investors.
Knight Capital says that a "technology issue" at its market making unit was behind the volatile price movements in 140 shares yesterday that forced Nyse Euronext to cancel trades.
Nasdaq OMX is setting aside around $40 million to cover broker losses related to its botched handling of last month's Facebook IPO but the planned package is facing widespread criticism.
Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced changes to its organizational structure and management under the new financial reporting segments which were effective for the third quarter earnings announced on October 19, 2011.
Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced that Knight BondPoint launched BondScope to help clients improve their trade execution quality and market transparency within the fixed income markets.
J.P. Morgan Worldwide Securities Services today announced that its GlobeClear business has been appointed to provide clearing and settlement services for Knight Capital Europe Limited when executing trades on Pipeline's Block Board, the pan-European multilateral trading facility (MTF) for equity blocks.
Knight Capital Group (NYSE Euronext: KCG) today introduced Knight Global Program Trading to provide institutions in the Americas, Europe and Asia with program trading capabilities combining global equities sales and trading expertise with Knight's multi-market technology and liquidity.
© Finextra Research 2013