Knight Trading Group Restructures Equity Markets Segment
04 April 2005 - 9:30PM
PR Newswire (US)
Knight Trading Group Restructures Equity Markets Segment Equities
Businesses Organized into Broker-Dealer, Institutional and
Electronic Services Groups JERSEY CITY, N.J., April 4
/PRNewswire-FirstCall/ -- Knight Trading Group, Inc. (NASDAQ:NITE)
today announced that the company has restructured its Equity
Markets business segment into three primary groups: Broker-Dealer,
Electronic Services and Institutional. "Our restructuring of
Knight's equities segment will help the company operate more
strategically and efficiently," said Thomas M. Joyce, Chairman and
Chief Executive Officer of Knight Trading Group. "Different clients
have different needs. In recognizing these differences, we can
provide the best level of service and the offerings our clients
want, with competitive pricing. The newly created Electronic
Services Group, for example, recognizes the growing demand from
institutional clients for high-technology, low-touch electronic
trading. At the same time, the new structure will help us find ways
to operate our businesses with greater efficiency, respond quickly
and compete more effectively in a market environment that is
getting increasingly challenging. Ultimately, each distinct
business must demonstrate its value for Knight in order for the
company as a whole to achieve long-term success. We are very
excited about our prospects going forward given the value we
believe this new structure will deliver to our clients and our
shareholders." The Broker-Dealer Group will be headed by Mony
Rueven, Senior Managing Director, who oversees broker-dealer sales,
marketing and trading in listed, Nasdaq, Bulletin Board, Pink
Sheets and foreign equities. Electronic Services is a newly created
group headed by Derek N. Stein, Executive Vice President. Upon
completion of the acquisition of Direct Trading Institutional,
Inc., announced today, a direct market access platform will be a
core client offering in Electronic Services. Gregory C. Voetsch,
Executive Vice President, is responsible for the Institutional
Group, which includes institutional sales and trading for listed,
Nasdaq and foreign equities; program sales and trading; and London
operations. Knight will release its first quarter results on
Wednesday, April 20, 2005, at 6:00 a.m. Eastern Daylight Time
(EDT). The company will conduct its first quarter earnings
conference call for analysts, investors and the media at 9:00 a.m.
EDT that same day. The conference call will be Webcast live at 9:00
a.m. EDT for all investors and interested parties on Knight's Web
site http://www.knight.com/. In addition, the company will release
its monthly volume statistics for March 2005 on its Web site before
the start of trading that same day. 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 market-neutral 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. 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 Trading 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 ; or Molly McDowell, Analyst,
Corporate Communications & Investor Relations, +1-201-356-1723
or , all of Knight Trading Group, Inc. Web site:
http://www.knighttradinggroup.com/
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