Knight Capital

  • knight


    Layoff Watch ’13: Knight Capital Group

    Cut are said to have gone down at the kingdom.

    / Oct 22, 2013 at 11:50 AM
  • medievaltimesknight


    Knight Capital CEO Is Going To Take Off Now

    “Over the course of the last eleven years, I have been fortunate to be the CEO of Knight Capital Group. Together we achieved a wide variety of the business goals we had established. With the transaction with GETCO completed, and after careful consideration, I have decided that now is the right time for me to […]

    / Jul 3, 2013 at 11:03 AM
  • knightcapital


    Knight Capital MD Made List (Of People To Fire), Checked It Twice (While Wildly Waving It In The Faces Of Condemned, Onlookers)

    This lawsuit is mostly about the (alleged!) unapologetic Antisemitism of Knight Capital managing director Brendan Joseph McCarthy, which former employee and plaintiff Robert Morris Milloul claims caused him and others to lose their jobs in the algorithmic trading unit of the firm; we don’t need to summarize the allegations but we did think it was […]

    / Jun 27, 2013 at 3:45 PM
  • I don't think they've said the name of newco but obviously our vote is for something knight-related. There are no good pictures of getcos.


    Getco Became $100 Million More Valuable While Negotiating To Buy Knight

    I give you a tiny puzzle. Getco offered to buy Knight Capital a month ago for $3.50 a share, in the form of a cash-stock-election structure complicated by the fact that Getco is not (yet) a public company and so the value of your stock election is a bit of a mystery. Today the Knight […]

    / Dec 20, 2012 at 9:35 AM
  • News

    Knight Capital Employees Picking The Place Clean As Sale, Layoffs Loom

    With Knight Capital Group’s days as an independent entity waning, the Jersey City brokerage’s employees are preparing for the future, so sayeth Charles Gasparino.

    / Dec 17, 2012 at 2:48 PM


    Knight Rides Again, Maybe

    I’m a sucker for a little puzzle and I guess this Knight-Getco-Virtu thing qualifies, so let’s just bop around doing some silly arithmetic about it. Knight, the trading firm that slow-burn blew itself up this year, is looking for buyers, and Getco and Virtu seem to be those buyers. On the table we have: An […]

    / Nov 28, 2012 at 1:28 PM
  • News

    Knight Capital Having Difficulty Catching A Break

    Knight Capital is experiencing “power issues” and told clients to trade equities elsewhere, according to a memo from the company. No new orders are being accepted, said the Jersey City, New Jersey-based company, which almost went bankrupt in August after a computer error flooded the market with unintended trades. [Bloomberg, earlier]

    / Oct 31, 2012 at 1:26 PM
  • News

    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 […]

    / Aug 8, 2012 at 1:56 PM
  • Go get 'em, tiger!


    High Frequency Traders In A Hurry To Get In And Out Of Knight Shares

    The Knight Capital convertible preferred documents are a mess. The basic structure is quite nice: Knight’s new investors are getting a preferred stock that, eliding the details below, pays a 2% dividend, converts into common at $1.50 a share, automatically converts once the common has traded above $3 for 60 days, and can be converted […]

    / Aug 7, 2012 at 2:05 PM
  • News

    Until It Lost Four Times Its Annual Earnings In A Matter Of Minutes, Knight Capital Was Very Profitable, And Guess What, The Company Doesn’t Need Your Charity Regardless

    …says former CEO who may or may not be authorized to speak for the place.

    The co-founder and former chief executive officer of battered market-maker Knight Capital Group gave a bullish assessment of the company’s future, telling CNBC that Knight can “definitely survive,” even without the help of a financial savior. If Knight should go under, “you’d have a hole in the marketplace,” said Kenneth Pasternak who retired from Knight in 2002. The market-maker “needs to restore the confidence of the community at large, but its a very important player and frankly, was a very profitable player until three days ago.”


    / Aug 3, 2012 at 3:17 PM
  • Jamie Lannister?


    Don’t Worry: FINRA’s Got This

    This should make you feel better: Knight Capital Group currently remains in compliance with its net capital requirements following the firm’s $440 million trading loss, a front-line financial regulator said Thursday. The Financial Industry Regulatory Authority, an independent regulatory authority for the securities industry, said in a statement Thursday that it’s working with Knight and […]

    / Aug 2, 2012 at 5:51 PM
  • tips

    Expert: If There Is One Thing Your Business Does, And You’re Incompetent At It, That Might Be Bad

    Traders at Knight Capital are already making calls for jobs elsewhere as the stock hits multi-decade lows, Gasparino reported. Knight employed a 1,418 people as of the end of the second quarter. “It’s a war zone here; bullets are flying. I’m just trying to survive,” a senior Knight executive told FOX Business. “It’s going to […]

    / Aug 2, 2012 at 4:31 PM
  • News

    Knight Capital CEO: “It Ain’t Good” When We Lose Four Times Our Annual Profit In A Matter Of Minutes

    Knight Capital has “all hands on deck” and is in close contact with clients and counterparties as it tries to weather trading errors that cost it $440 million, Chief Executive Officer Thomas Joyce said. Joyce said it’s “hard to comment” on discussions with creditors as Knight stock extended a two-day plunge to 70 percent and […]

    / Aug 2, 2012 at 12:47 PM
  • "Knight falls off horse" is definitely a suggested Google search, though the results are disappointing.


    Knight Unhorsed

    Yesterday I and others pointed out that, while UBS was not alone in getting screwed by Nasdaq failures on Facebook, it was alone in losing 10x as much as other, more competent market makers like Knight Capital, and ha ha ha. This apparently had a jinxing effect: Knight Capital Group Inc., one of the largest […]

    / Aug 1, 2012 at 2:04 PM
  • News

    Broker Involved In Unsanctioned “Wolfpack Ragematch” At New York Athletic Club Not Going Down Without A(nother) Fight

    At a brief court appearance yesterday, prosecutors said they want one of the three men — Peter Doran, 28, of Glen Head — to serve a half year in jail for throwing punches during the April 13 fracas. Doran allegedly threw the first roundhouse against another guest at the NYAC’s usually sedate second-floor Tap Room. […]

    / Jun 20, 2012 at 1:11 PM
  • News

    Broker Involved In Unsanctioned “Wolfpack Ragematch” At New York Athletic Club Will Not Be Getting Off

    Remember the fight that broke out at the New York Athletic Club last month, which a witness described as a “nondiscriminatory ragematch” involving “young people, old people, girls, members, and nonmembers,” which started as a tiff over a woman and “escalated into a brawl involving three fighting wolfpacks,” wherein “tables were overturned or moved to the room’s periphery to crate a lion’s pit for the battle,” a “fat pudgy kid came out of nowhere, laid out a larger man with a blow to the head and was tackled by a crowd,” approximately two noses were broken, and the police made three arrests? Oddly, it looks unlikely that the guy who did “the most damage” (to people’s faces) will be walking away with a slap on the wrist.

    Manhattan prosecutors aren’t cutting any slack for the handsome broker charged with doing the most damage at an unbridled bar brawl at the otherwise stodgy New York Athletic Club. The DA’s office is not making any plea offers for Colin Drowica, 30, of Glen Head, LI, prosecutors said yesterday, as the glum-looking alleged brawler stood before a criminal court judge in a gray business suit. Drowica, a director at Knight Capital, is charged with harassment and misdemeanor assault — which carries up to one year jail — for allegedly punching another man in the club’s Tap Room with enough force to fracture his eye socket. Drowica then joined with fellow North Shore resident clubgoers Peter Doran and Matthew O’Grady in allegedly beating the heck out of a second man during the April 13 free-for-all.

    Manhattan DA not pulling any punches in charging broker in NYAC brawl [NYP]

    / May 22, 2012 at 10:15 AM
  • News

    This Is A Description Of A Fight That Occurred At The New York Athletic Club Friday Night

    “Young people, old people, girls, members, nonmembers, it was a nondiscriminatory ragematch.” The witness’s note says that the initial fight seemed to have commenced over a woman, and escalated into a brawl involving three fighting “wolfpacks.” Tables were overturned or moved to the room’s periphery to create a “lion’s pit” for the battle. Other highlights, […]

    / Apr 24, 2012 at 5:25 PM
  • News

    Layoffs Watch ’10: Knight Capital

    Chaz G., mining the DB comments for scoops (KIDDING) reports that the firm cut 8 percent of its workforce this week.

    / Oct 1, 2010 at 4:00 PM

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