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.

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