JERSEY CITY, N.J. and
LONDON, April 20 /PRNewswire-FirstCall/ -- Knight Capital
Group, Inc. (Nasdaq: NITE) today announced the launch of Oasis, a
smart order execution algorithm that sources small- and mid-cap
liquidity, for European equities.
Oasis uses innovative logic to source liquidity in thin and
difficult-to-trade names with increased efficiency and
opportunities for price improvement as well as greater fulfilment.
The strategy evaluates liquidity, volatility, price trend, momentum
and other characteristics in real time to determine the best
sources of liquidity to help minimize market impact. Oasis also
includes anti-gaming procedures such as continuous monitoring for
adverse trading behaviour to further help minimize information
leakage.
"Knight does not subscribe to a one-size-fits-all approach. That
philosophy has led Knight to become an innovator in creating new
categories of algorithms, including situation-specific algorithms
like Oasis," said Bradley Duke,
Managing Director at Knight. "Higher volatility, reduced liquidity
and wider spreads are just a few of the challenges associated with
trading small- and mid-cap stocks. Knight has deep expertise in
these often thinly traded names as well as in the complexities of
trading across the fragmented European marketplace."
Oasis is a new addition to Knight's Algorithmic Suite for
European equities. The algorithms are powered by FAN™, a smart
order execution algorithm which sources liquidity from multiple
exchange and MTF destinations simultaneously while adapting to
market conditions in real time and re-circulating orders to where
executions are occurring.
Oasis and Knight's entire Algorithmic Suite are accessed through
Knight Direct, Knight's multi-asset class execution management
system, as well as through a number of third-party execution and
order management systems via Knight Direct's FIX capabilities. To
learn more about Knight's European algorithmic offering,
please contact Bradley Duke at +44
20 7997 7818 or bduke@knight.com.
About Knight
Knight Capital Group, Inc. (Nasdaq: NITE) is a global financial
services firm that provides market access and trade execution
services across multiple asset classes to buy- and sell-side firms.
Knight's hybrid market model features complementary electronic and
voice trade execution services in global equities and fixed income
as well as foreign exchange, futures and options. The firm is the
leading source of liquidity in U.S. equities by share volume.
Knight also offers capital markets services to corporate issuers.
Knight is headquartered in Jersey City,
NJ with a growing global presence across North America, Europe and the Asia-Pacific region. For more information,
please go to 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 changes in
market structure, legislative or regulatory rule changes, the
costs, integration, performance and operation of businesses
recently acquired or developed organically, or that may be acquired
in the future, by the Company and risks related to the 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 in this
report. 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,
2009, 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, 2009, and in other
reports or documents the Company files with, or furnishes to, the
SEC from time to time.
SOURCE Knight Capital Group, Inc.