Knight Capital achieves UK RSP status

Source: Knight Capital

Knight Capital Group, Inc. announced today that wholly-owned subsidiary Knight Capital Europe Limited has commenced operations as a Retail Service Provider (RSP) in the U.K. Knight provides trading and market-making as well as price quotation services to clients predominantly in FTSE 350 Index companies listed on the London Stock Exchange.

Commenting on the further expansion of Knight's offering in Europe, Jamil Nazarali, Managing Director and Global Head of the Electronic Trading Group said, "Knight is building liquidity across a broad range of European equities to serve broker-dealers. Our participation as a RSP represents an exciting extension of our electronic trading capabilities. Knight has extensive experience across securities trading, technology, operations, client service, compliance and market structure, developed as a leading provider of trade execution services to broker-dealers in the U.S."

Knight's RSP trade execution services are currently accessible through the Proquote and Fidessa RSP networks. Firms may also access Knight Link, an electronic access point into Knight's deep, off-exchange liquidity, through RSP networks or direct connectivity. Knight Link is fully customisable and enables easy integration into smart order routers, dark liquidity-seeking algorithms or OMS systems as an additional source of liquidity. Clients benefit from rapid executions, reduced trading costs and lessened market impact.

Kee-Meng Tan, Managing Director, Head of the Electronic Trading Group at Knight Capital Europe Limited said, "We look forward to supporting broker-dealers in the U.K. As a leading provider of off-exchange liquidity in the U.S., we believe RSP users will benefit greatly from Knight's entry into the competitive quote market. Knight is connected to exchanges and MTFs across Europe to give clients access to the best prices available at the time of execution. In addition, we are ready and able to work with RSP users to reduce their overall trading costs through settlement netting."

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