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Timeline 1790-Today click images below to read highlights It all started with the Buttonwood Agreement in 1792. Follow this timeline to discover some of the highlights—and lowlights—that shaped our modern-day capital markets.       1997 In November, Knight acquires Tradetech Securities and interest in ECN Brass Utility LLC. These acquisitions expand Knight’s industry-leading market share. 1998 The SEC reports that online brokerage account assets reach $415 billion. 1998 In February, Knight reaches #1 in both volume and market share in the AutEx Group’s rankings of Nasdaq/OTC securities. In July, Knight completes its initial IPO under Nasdaq ticker symbol NITE. 1999 The DJIA tops 10,000. Online trading volume increases dramatically, growing to over half a million trades per day in the second quarter of 1999 (from 100,000 trades per day in the second quarter of 1996). Online accounts now number 9.7 million, almost triple the amount open in 1997. 2000 It's estimated that online brokerage account assets will increase by more than sevenfold to reach $3 trillion by 2003. The Dow Jones Industrial Average closes at its all-time high of 11,722.98. 2000 In January, Knight acquires Arbitrade Holdings, an options market maker and asset manager. Knight renames Arbitrade’s options market-making unit to Knight Financial Products. Deephaven Capital Management is its asset management business. At the peak of the technology boom in February, Knight sets a new one-day record of 877,071 trades, for a total of more than 810 million shares. In May, at the Company’s annual meeting, shareholders elect to change the Company name from Knight/Trimark Group, Inc. to Knight Trading Group, Inc., retaining the Nasdaq ticker symbol NITE. Also in May, Knight Trading Group establishes a regulated broker-dealer susidiary in London. |
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