Knight Capital Actually Only Lost Two And A Half Times* Its Annual Profit In A Matter Of Minutes

Knight Capital Group Chief Executive Officer Thomas Joyce said in a letter to clients yesterday the company is “in good standing” with clearing firms and its broker-dealer units have sufficient capital. Joyce also said the post-tax loss stemming from Knight’s trading error was about $270 million, compared with a previously reported pretax loss of $440 million. The letter comes a week after Knight, one of the biggest market-making firms in the U.S., was driven to the brink of bankruptcy after a technology malfunction spewed orders into the market by mistake. [Bloomberg, earlier]


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34 Responses to “Knight Capital Actually Only Lost Two And A Half Times* Its Annual Profit In A Matter Of Minutes”

  1. Editor in Chief says:

    Bess, do you mean "half its annual profit"?

  2. tHe OthEr JD says:

    Phew, that was close. Only 270mil. K.Adoboli or Iksil shoulda been on the job and done it properly. There are no redo's in life.

  3. Guest says:

    So, now we wait to see who is the first congressperson to bitch about the taxpayer "subsidizing" Knight's losses, showing complete ignorance of how the tax code works. I'll put $100 on Maxine Waters.

  4. guest says:

    It looks like Sarah Jessica Parker went brunette

  5. Guest says:

    The Knight is dark and full of terror.

  6. Oh My says:

    But…but…he's my only means of conveyance!

  7. Infinite Joust says:

    I feel like if Matt didn't like documenting his Renaissance Fair trips so much we would have to look at the same stock photo of a knight every day…

  8. reospeedwagon916 says:

    incredible recovery!

    -AIG Quant

  9. Guest says:

    buying interest in a futures trading company with $400million in assetes and stealing it in less than 1hour, the NKI!

  10. .Bo says:

    It's 4 PM. Matt must be preparing something epic.

  11. Another Bro-Dad says:

    Unrelated, but I can't be the only person who wants to know how the Little Bros B-Day party went.

  12. guest says:

    What's the over/under on how many more times the eternal slam piece sent him to Party City ?

  13. History Major says:

    Whic Noel girl is that?

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