Knight's EdgeTrade Algorithmic Suite Ranked #1 Among Brokerages in NASDAQ Trading Costs Against VWAP for Second Consecutive Year
December 01 2008 - 8:01AM
PR Newswire (US)
The Elkins/McSherry Global Transaction Cost Analysis conducted for
Institutional Investor magazine also ranked EdgeTrade among top
five brokerages for NASDAQ stocks vs. Arrival Price and NYSE stocks
vs. VWAP and Arrival Price JERSEY CITY, N.J., Dec. 1
/PRNewswire-FirstCall/ -- Knight Capital Group, Inc. (NASDAQ:NITE)
today announced that EdgeTrade, Knight's agency-only algorithmic
offering, was recognized in the 12th Annual Global Transaction Cost
Analysis conducted for Institutional Investor by research firm
Elkins/McSherry, a subsidiary of State Street Corp. The EdgeTrade
algorithmic suite is offered through Knight Direct LLC, a
subsidiary of Knight Capital Group. EdgeTrade's algorithms placed
#1 among brokerages for NASDAQ trading benchmarked against Volume
Weighted Average Price (VWAP) for the second consecutive year with
a differential of 14.6 basis points. EdgeTrade also ranked #5 in
NASDAQ trading benchmarked against Arrival Price. In NYSE trading,
EdgeTrade ranked #3 and #5 among brokerages benchmarked against
Arrival Price and VWAP, respectively. Elkins/McSherry analyzed
transaction costs over 12 months ending June 30, 2008 and included
brokerages with greater than $3 billion in principal traded.
Elkins/McSherry compiles trade data from more than 300 large
institutions. The data covers more than 20 million trades, $5
trillion worth of principal and 400 billion shares traded,
representing 1,500 investment managers and 2,000 brokers worldwide.
The results of the 12th Annual Global Transaction Cost Analysis are
published in the November issue of Institutional Investor magazine.
"We are very proud to have topped the Institutional Investor Survey
for the second year in a row," said Joseph Wald, Managing Director,
Knight Direct. "The science of sourcing liquidity is a major factor
in achieving stellar performance. Our fine-tuned FAN routing logic
leverages both Knight's deep internal liquidity and its vast
connections to external dark and public execution venues."
EdgeTrade's agency-only strategies empower clients to maintain
market anonymity and reduce overall transaction costs, while
achieving their trading objectives. EdgeTrade's smart order
execution strategies leverage real-time and historical data to help
clients execute orders by seeking out available liquidity among
fragmented displayed and non-displayed markets. These solutions
include FAN, Covert and Sumo. EdgeTrade also offers VWAP and
participation algorithms. Clients can access EdgeTrade algorithms
through Knight Direct EMS(TM), a broker-neutral electronic trading
platform covering multiple asset classes, or via major OMS and
trading system providers. "Knight continues to enhance the
EdgeTrade algorithms and Knight Direct EMS through new
functionality, geographic expansion and increased sales support,"
Mr. Wald said. Knight Direct EMS, which offers international,
multi-asset class trading capabilities and access to EdgeTrade's
algorithms, now includes real-time global transaction cost analysis
tools. The company also recently added to its electronic offerings
sales team with several new hires in the U.S. and Europe. "We look
forward to leveraging our leading electronic trading experience in
the U.S. to provide equally valuable offerings to our clients
globally." For more information about EdgeTrade's algorithms and
services, please visit
http://www.knight.com/ourOfferings/EdgeTrade.asp. About Knight
Knight Capital Group, Inc. (NASDAQ:NITE) is a leading capital
markets firm that provides electronic and voice access to the
capital markets across multiple asset classes for buy-side,
sell-side and corporate clients. In Global Markets, we provide
market access and trade execution services in nearly every U.S.
equity security and a large number of international securities,
futures, options, foreign exchange and fixed income. In Asset
Management, Knight owns a 51 percent stake in Deephaven Holdings
with Deephaven Partners controlling the remaining 49 percent as of
February 1, 2008. Deephaven (http://www.deephavenfunds.com/) is a
global, multi-strategy alternative investment manager serving
institutions and private clients. More information about Knight can
be found at http://www.knight.com/. Certain statements contained
herein, may constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are not historical facts and are
based on current expectations, estimates and projections about the
Company's industry, management's beliefs and certain assumptions
made by management, many of which, by their nature, are inherently
uncertain and beyond our control. Accordingly, 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
including, without limitation, risks associated with the costs,
integration, performance and operation of businesses recently
acquired, or that may be acquired in the future, by the Company,
and risks associated with the unprecedented current market
conditions and the resulting volatility, credit tightening and
counterparty risk, as well as the negative effect on performance
and assets under management in our Asset Management business and
the suspension of redemptions and withdrawals of certain funds
announced in the Form 8-K filed by the Company on October 30, 2008.
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. Readers should
carefully review the risks and uncertainties disclosed in the
Company's reports with the U.S. Securities and Exchange Commission
(SEC), including, without limitation, those detailed under the
headings "Certain Factors Affecting Results of Operations" and
"Risk Factors" in the Company's Annual Report on Form 10-K for the
year-ended December 31, 2007, and in other reports or documents the
Company files with, or furnishes to, the SEC from time to time.
This information should also be read in conjunction with the
Company's Consolidated Financial Statements and the Notes thereto
contained in the Company's Annual Report on Form 10-K for the
year-ended December 31, 2007, and in other reports or documents the
Company files with, or furnishes to, the SEC from time to time.
DATASOURCE: Knight Capital Group, Inc. CONTACT: CONTACT: Margaret
Wyrwas, Senior Managing Director, Communications, Marketing &
Investor Relations, +1-201-557-6954 or ; Kara Fitzsimmons,
Director, Media Relations, +1-201-356-1523 or ; Jonathan Mairs,
Vice President, Corporate Communications, +1-201-356-1529 or ; or
Mary Gilbert, Vice President, Marketing Communications,
+1-201-386-2825 or , all of Knight Capital Group, Inc. Web Site:
http://www.knight.com/
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