Knight Launches Oasis Small- and Mid-Cap Algorithm
24 June 2009 - 9:30PM
PR Newswire (US)
JERSEY CITY, N.J., June 24 /PRNewswire-FirstCall/ -- Knight Capital
Group, Inc. (NASDAQ:NITE) today announced the introduction of
Oasis, a smart order execution algorithm that is tailored
specifically to source small- and mid-cap liquidity. Oasis is
Knight's newest addition to its EdgeTrade Algorithmic Suite. Using
innovative liquidity sourcing logic, Oasis is designed to optimally
handle the trading obstacles typically associated with thin and
difficult-to-trade names. Knight has an unparalleled depth in
small-and mid-cap securities with market share of 38.9% in stocks
that trade less than 2 million shares per day.* Knight is a leading
source of off-exchange liquidity and is #1 in share volume for all
Listed and NASDAQ securities.** "Our clients have expressed that
effectively executing small- and mid-cap stocks is an important
source of alpha for them. They need a specialized strategy to
handle the complexities of navigating through intricate trade
scenarios rather than a one-size-fits-all approach. We created
Oasis as a next generation algorithmic strategy in recognition of
the fact that there are increased overall costs and risks
associated with trading small- and mid-cap stocks, such as higher
volatility, less liquidity and wider spreads," said Joe Wald,
Managing Director at Knight. "Oasis leverages Knight's trading
expertise and premiere liquidity position in this particular
equities category." Oasis and all of the algorithms in the
EdgeTrade Algorithmic Suite are powered by FAN(TM), Knight's smart
order execution algorithm. Smart order execution leverages
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 -
Sweeps/posts an order simultaneously to public liquidity and dark
pools, dynamically allocating the order to destinations where
liquidity is located -- Covert(TM) - Posts and fills orders in dark
pools exclusively -- Sumo(TM) - An aggressive strategy for quickly
filling an order designed to reduce information leakage and
minimize market impact FAN also is incorporated into various
benchmark and participation algorithms: -- Arrival Price -- VWAP --
TWAP -- Smart VTrack -- Target Close Clients can access Oasis and
the entire EdgeTrade Algorithmic Suite through Knight Direct(R),
Knight's multi-asset class execution management system, as well as
through a number of third party execution and order management
systems. The EdgeTrade Algorithmic Suite and Knight Direct EMS are
offered through Knight Direct, LLC, a subsidiary of Knight Capital
Group and member SIPC. Interested clients should contact Joe Wald
to learn more about Knight's algorithmic offering at 201.479.2335
or . * Source: Bloomberg May 2009 ** Source: AutEx YTD May 2009
About Knight Knight Capital Group, Inc. (NASDAQ:NITE) is a leading
financial services firm that provides electronic and voice access
to the global 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 global equities and
fixed income, foreign exchange, futures and options. Our approach
to trading combines deep liquidity with robust trading technology
and capital facilitation, when necessary, to deliver high quality
trade executions consistent with client defined measures. Our
Corporate segment invests in strategic, financial services-oriented
opportunities, allocates, deploys and monitors all capital and
maintains all corporate overhead expenses. Our Asset Management
segment is reported as a discontinued operation as of March 31,
2009. 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 (i) the costs,
integration, performance and operation of businesses recently
acquired, or that may be acquired in the future, by the Company,
and (ii) the closing of the sale of substantially all of the assets
of the Asset Management business and costs and expenses associated
with the Company's exit from the Asset Management business. 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, 2008, 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, 2008, 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: Margaret Wyrwas,
Senior Managing Director, Communications, Marketing & Investor
Relations, +1-201-557-6954, , or Kara Fitzsimmons, Director, Media
Relations, +1-201-356-1523, , Jonathan Mairs, Vice President,
Corporate Communications, +1-201-356-1529, , or Mary Gilbert, Vice
President,, Marketing Communications, +1-201-386-2825, Web Site:
http://www.knight.com/
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