Knight Capital Receives Formal Bid from Getco

0 Comments

After trading higher on Monday due to rumors that the company was in play, Knight Capital reported today that it received a formal bid from equity market maker company Getco. The stock and cash offer values shares of Knight Capital at $3.50/share. On the news, shares of Knight are higher by 16% to $3.47 and are over 40% higher from last week’s closing levels before weekend talk of a buyout occurred.

With reports of rival market maker Virtu Financial and possibly also Citadel Capital (who inquired but didn’t participate in Knight’s August refinancing) being interested in Knight, we could see Getco’s bid being trumped by another participant. Although equity volumes have fallen this year and specifically HFT trades have decreased after the Knight glitch in August, Knight Capital’s technological network is considered a prize asset and worth taking a shot on with the depressed price of the company.

In regards to Knight’s FX trading unit Hotspot, so far no details have emerged of how a deal will impact that business.







TAGS: , , , , , , ,
 

Related posts:

More information on this subject is found in the latest Forex Magnates Quarterly Report


Comments are closed.

We do not store your information and we do not disclose our sources.


Leave your name/email (not required) if you'd like to be contacted about this story (will not be disclosed):



Digital Currencies

Expert Articles

Startups & New products

Bug Bounties Pay as CrowdCurity Scores $1M in Tim Draper Led Venture Funding Round

In January, Forex Magnates covered web security firm CrowdCurity. Following traction of their offering, CrowdCurity has announced that they have received $1 million in a...

Litecoin falling hard, cracks $7, threatening new 2014 lows

After a few weeks of quiet, Litecoin (LTC) has resumed its lengthy fall, once again breaking through the $7 mark to $6.97 minutes ago. Litecoin has...

Blackcoin resumes slide, approaches key 0.125 mBTC level

Blackcoin (BC) resumed its slide after getting a boost one week ago, when it broke its earlier slump and spiked 30% in less than 24h....

More Digital Currencies

kiana danial

How Do I Know What The Right Leverage Is For Me?

When trading fx, you can benefit from something called leverage, which is a concept widely applied in the fx market to enable you trade larger...

gambling2

Are Binary Options A Form Of Gambling?

Whether Binary Options are gambling is a question asked far and wide, asked by traders, brokers, regulators, and other interested parties - so let's settle...

bart

In Lean Times, Which Marketing Tactics Are Necessary For Brokers?

When volumes are down, a lot of brokers stop spending on marketing. It makes some sense because when volumes are down, volatility is down, however...

More Expert Articles

New Product Spotlight

Screenshot of IBM Stock in Options Master

PFSOFT Upgrades Protrader with New Option Master Tool for Stock Options

The new Option Master tool complements the multi-asset aspect of PFSOFT’s Protrader platform, equipping stock options traders with the same functionalities as futures, stock and forex trading offer.
Read more

Copy Trading Update: Tradency Integrates Mirror Trader with cTrader

cTrader continues its expansion into the copy trading space as only a few weeks after Myfxbook, Tradency comes to the fray, with full integration of the platform into its Mirror Trader social trading solution.
Read more

More Startups & New Products

Forex Research

Recent Comments

Note: Copyright © 2014 Forex Magnates. All rights reserved.

All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of Forex Magnates. You may not alter or remove any trademark, copyright or other notice from copies of the content. All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Once your submit any email address to us whether through comments, newsletter subscription or otherwise we may periodically send you email updates and/or proposals from select sponsors - you may unsubscribe from this list any time.
Opinions expressed at Forex Magnates are those of the individual authors and do not necessarily represent the opinion of Forex Magnates or its management. Forex Magnates has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by Forex Magnates, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Forex Magnates will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2014 "Forex Magnates Inc. - Home of the Forex Elite" All Rights Reserved.