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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/