Tag: Knight Capital

December 19, 2012 BY Gerald Segal

Knight Capital to choose Getco bid

Getco likely to divest Knight's non-core assets, including Hotspot FX. Although it has not yet been formally announced, sources close to the situation (and as reported by CNBC) reported that Knight Capital's board will select Getco's offer to buy the company, after Getco raised the cash portion of its bid to $3.60 per Knight share.…

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December 14, 2012 BY Gerald Segal

Hotspot FX volumes down 5% in November

Will Hotspot FX soon have a new owner? Hotspot FX reported that volumes in its Forex ECN system fell in November to average $21.6 billion daily, down 5% from October's $22.7 billion -- and down 22% from last-year November's $27.9 billion. What's been interesting most of our readers though, it seems, is the future of…

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November 29, 2012 BY Gerald Segal

Market not anticipating competing bids for Knight Capital

Either way, likely that Hotspot FX finds a new home. Things sure can move fast on Wall Street. Just several hours after we blogged about (likely) potential bids emerging for the entirety of market-maker Knight Capital -- not just for one of its divisions, which was the topic of a weekend Wall Street Journal article…

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November 28, 2012 BY Gerald Segal

Will Hotspot FX need to find a new home?

Acquisition rumors swirl around Knight Capital after weekend WSJ article. The parent company of Forex ECN Hotspot FX, Knight Capital (NYSE: KCG), has seen its shares spike by about 20% the past two trading days, since a Wall Street Journal weekend article stated that Knight was weighing the sale of its main equity market-market business…

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November 15, 2012 BY Gerald Segal

Hotspot FX volumes down 12% in October

... but parent Knight Capital continues its comeback from the August "glitch". Hotspot FX reported that volumes in its Forex ECN system fell in October to average $22.7 billion daily, down 12% from September's $25.8 billion -- and down 34% from last-year October's $34.2 billion. The October decrease is basically in line with what we…

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October 17, 2012 BY Gerald Segal

Hotspot FX (and Knight Capital) have nice September comeback

Firm volumes overall recover nicely following August "glitch". Brokerage firm Knight Capital -- which famously nearly went under in early August after a trading glitch in its equities business caused a $400 million loss -- announced its volumes for September, and in most key categories things seem to have stabilized. In its Forex ECN unit…

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September 24, 2012 BY Gerald Segal

Hotspot FX unlikely to be sold

Hotspot FX would likely fetch $150-200 million. In comments made to reporters on the sidelines of a Security Traders Association conference on Friday, and reported by Reuters, Knight Capital CEO Tom Joyce said that the company is unlikely to shed any of its major business units -- which include Forex ECN Hotspot FX -- as Knight looks…

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