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Knight Trading Group to Offer Outsourced Portfolio Financing
Services to Hedge Funds Through S3 Asset Management
JERSEY CITY, N.J., Jan. 19 /PRNewswire-FirstCall/ -- Knight Trading Group,
Inc. (NASDAQ:NITE) today announced that its Knight Equity Markets, L.P.
subsidiary has established a strategic relationship with S3 Asset Management to
provide hedge fund clients with balance sheet management solutions. S3, based
in New York, trades collateral on an agency basis, provides financing services
and structures funding programs for its hedge fund clients.
"The effective management of financing and funding costs is a priority for
absolute return-oriented funds, and Knight's relationship with S3 Asset
Management adds this key component to the suite of products and services we
offer to our institutional clients," said Thomas M. Joyce, Chairman, Chief
Executive Officer and President of Knight. "We recognize that institutional
managers are increasingly interested in outsourcing, allowing them to tap the
best expertise in the business in a cost-efficient manner. With this agreement,
our hedge fund clients now have access to superior portfolio financing and
asset funding services, in addition to the unbundled trade execution products
and services they already seek from Knight."
Robert Sloan, Managing Partner of S3 Asset Management, said, "Increasingly for
hedge funds, effective portfolio financing is becoming as important as trade
execution. The current market environment for volatility and interest rates
makes it more important than ever for hedge funds to focus on their financing
and funding needs. My colleagues and I welcome the opportunity to work with
Knight and add value to their clients."
About Knight Trading Group
Knight is focused on meeting the needs of institutional and broker-dealer
clients by providing comprehensive trade execution services in equities. A
leading trade execution specialist, Knight offers capital commitment and access
to a deep pool of liquidity across the depth and breadth of the equity market.
Knight also operates an asset management business for institutions and high net
worth individuals. To be a valued partner, Knight strives to provide superior
client service and will continue to tailor its offering to meet the needs of
its clients. More information about Knight can be obtained at
http://www.knight.com/ .
About S3 Asset Management
S3 Asset Management, based in New York, is an outsourced portfolio financing
manager delivering innovative balance sheet management solutions to hedge fund
clients. The firm trades collateral on an agency basis, provides financing
services and structures funding programs. Its services to hedge funds include
daily short book management, color for short sales and locating hot stocks,
recall / buy-in advice, management of yield enhancement and leverage. More
information about S3 Asset Management can be obtained at
http://www.s3asset.com/ .
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 Knight'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 Knight 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, Knight 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 Knight files from time to time with the Securities and Exchange
Commission.
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, Assistant Vice President, Marketing Communications & Public Relations,
+1-201-557-6948, , or Molly McDowell, Analyst,
Corporate Communications & Investor Relations, +1-201-356-1723,
, all of Knight Trading Group; Charlotte Luer, of
LJH Financial Marketing Strategies, +1-239-280-1317, , for S3
Asset Management
Web site: http://www.knighttradinggroup.com/
http://www.knight.com/
http://www.s3asset.com/