Direct Edge ECN Opens for Trading Nasdaq NMS and Small-Cap Equities
October 24 2005 - 8:56AM
PR Newswire (US)
Launch Follows Close of Knight Capital Group's Acquisition of the
ATTAIN ECN from Domestic Securities JERSEY CITY, N.J., Oct. 24
/PRNewswire-FirstCall/ -- Knight Capital Group, Inc. (NASDAQ:NITE)
today announced the launch of Direct Edge ECN, formerly the ATTAIN
ECN. Knight completed the acquisition of the business of the ATTAIN
ECN from Domestic Securities, Inc., a privately held company, and
certain of its shareholders, following the close of business on
October 21, 2005. Under Knight's ownership, the goal for Direct
Edge ECN is to operate as a liquidity destination providing its
participants with anonymous, industry- leading fulfillment rates at
competitive prices. The Direct Edge ECN offers the ability to match
trades in Nasdaq National Market and Nasdaq SmallCap securities by
displaying orders in either the NASDAQ Market Center or the NASD
Alternative Display Facility. Direct Edge ECN's market participant
identifiers (MPID) will be EDGA for NASD Alternative Display
Facility and EDGX for Nasdaq Market Center. "We are proud to offer
our clients and the marketplace an alternative liquidity
destination, especially as consolidation among exchanges, market
centers and ECNs has diminished alternatives," said Thomas M.
Joyce, Chairman and Chief Executive Officer of Knight Capital
Group. "Like other Direct Edge ECN clients, I expect Knight's
broker-dealer subsidiaries to contribute liquidity, and our hope is
that the value of Direct Edge ECN grows with increased
participation. The Direct Edge ECN team also is working on
enhancements to the platform, including broader market access and
intelligent routing capabilities. We expect Direct Edge ECN to
become an important component of Knight's offering, complementing
our proven expertise in the high quality execution of market orders
with fast, anonymous execution of limit orders." Direct Edge ECN
LLC is a member NASD and SIPC and is an indirectly held, wholly
owned subsidiary of Knight Capital Group, Inc. Direct Edge ECN LLC
is the sponsor of the Direct Edge ECN. For more information, please
visit http://www.directedgeecn.com/. About Knight Knight is a
leading provider of comprehensive trade execution and asset
management services. Our Equity Markets business offers
institutions and broker-dealers high quality trade execution and
capital commitment across the depth and breadth of the equity
market. Our Asset Management business, Deephaven Capital
Management, is a multi-strategy investment manager focused on
delivering risk-adjusted returns with low volatility for
institutions and high net worth individuals. Knight strives to be a
valued partner by providing superior service and continually
enhancing its offering to meet client needs. More information about
Knight can be obtained at http://www.knight.com/. Certain
statements contained herein constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on current
expectations, estimates and projections about the Company's
industry, management's beliefs and certain assumptions made by
management. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and are subject
to certain risks, uncertainties and assumptions that are difficult
to predict. Since such statements involve risks and uncertainties,
the actual results and performance of the Company may turn out to
be materially different from the results expressed or implied by
such forward-looking statements. Given these uncertainties, readers
are cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made herein; however, readers
should carefully review reports or documents the Company files from
time to time with the Securities and Exchange Commission including,
without limitation, the risks and uncertainties detailed under the
headings "Certain Factors Affecting Results of Operations" and
"Risks Affecting our Business" in the Company's Annual Report on
Form 10-K. DATASOURCE: Knight Capital Group, Inc. CONTACT: Margaret
Wyrwas, Senior Managing Director, Corporate Communications &
Investor Relations, +1-201-557-6954, , or Kara Fitzsimmons, Vice
President, Corporate Communications, +1-201-356-1523, , or Greta
Morley, Vice President, Marketing Communications & Public
Relations, +1-201-557-6948, , or Molly McDowell, Analyst, Corporate
Communications & Investor Relations, +1-201-356-1723, , all of
Knight Capital Group, Inc. Web site: http://www.knight.com/
http://www.directedgeecn.com/
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