Knight Capital gets an Edge

Knight Capital has bought EdgeTrade, a privately-held agency-only trade execution and algorithmic software company.
JAN 15, 2008
Knight Capital Group Inc. today announced their completed acquisition of EdgeTrade Inc. a privately-held agency-only trade execution and algorithmic software company. The terms of the transaction amounted to $59.5 million, comprising $29.5 million in cash and approximately 2,285,000 shares of unregistered Knight stock. EdgeTrade’s technology gives buy- and sell-side firms the ability to manage their trading activity, source liquidity, maintain anonymity, and lower their transaction costs. Jersey City, New Jersey-based Knight also announced that EdgeTrade's algorithms are now available on its trading platform Knight Direct that is soon to undergo a name change to Knight Direct EMS.

Latest News

Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans
Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans

Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B

Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state
Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state

“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.

Osaic in talks with Anthropic as AI reshapes advisor workforce
Osaic in talks with Anthropic as AI reshapes advisor workforce

The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO

The retirement milestone advisors aren't tracking
The retirement milestone advisors aren't tracking

For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.

Wealthtech firms target stock pay, pensions and heirs for advisors
Wealthtech firms target stock pay, pensions and heirs for advisors

Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.