Electronic Access & Trading
Electronic Access (Platforms)
Knight Direct™
Knight Direct is a comprehensive execution management system that offers clients direct market access via a broker-neutral trading platform to multiple liquidity destinations. Within a single streamlined interface, clients have access to a wide array of functionality including pre- and post-trade analytics, order and execution management, and integration with prime broker and post-trade processing. Knight Direct allows flexibility to trade multiple asset classes, including equities, futures, options and foreign exchange. Clients also have access to Knight's EdgeTrade algorithms, dark pools, trade cost analysis tools and complex option order capabilities, while being backed up by a dedicated client service and systems support team.
Hotspot FXi™
Hotspot FXi operates a foreign exchange ECN that is ideally suited to short-term technical models and high-speed algorithmic trading systems. It enables instantaneous and anonymous trading on competitive prices streamed by bank market makers, as well as on bids and offers entered by institutional clients. Transparency and timely market data support best execution and transaction cost analysis.
Knight BondPoint™
Knight BondPoint operates an effective fixed income marketplace and automates trading, thereby increasing operational efficiencies for firms, facilitating trading and lowering related transaction costs. Knight BondPoint operates a fixed income ECN – a centralized, electronic inter-dealer cross-matching system – connecting more than 200 retail brokerage firms. In addition, it provides a customizable front-end application allowing financial advisors and brokers to easily search, analyze and execute trades.
Knight Portfolio Access™
Knight Portfolio Access offers managed account products and services to retail brokerage firms and registered investment advisors that utilize separately managed accounts. Clients receive exclusive access to institutional-quality investment managers, as well as a scalable, open architecture investment platform with full operational support for building, managing and administering client portfolios.
NetDelta™
NetDelta is a unique electronic settlement and confirmation platform for the credit derivatives market providing comprehensive real-time solutions throughout the lifecycle of a credit derivative trade, including entering, maintaining and exiting positions. The platform, designed to reduce counterparty risk, introduces automation and standardization to over-the-counter derivatives and offers market participants real-time reporting of positions and improved balance sheet usage.
Electronic Trade Execution Services (Strategies)
Broker-Dealer Electronic Trading
Broker-Dealer Electronic Trading runs one of Wall Street's most successful and innovative automated electronic trading systems. Knight's quantitative strategists develop statistical models of asset prices using data from the exchanges, company filings and other sources. This quantitative market-making allows Knight to provide among the highest execution quality in the industry. Broker-Dealer Electronic Trading is consistently among the industry leaders in providing high-quality executions according to SEC Rule 605 mandates.
EdgeTrade Algorithmic Suite
Knight's EdgeTrade Algorithmic Suite encompasses smart order execution, benchmark and participation algorithms that were developed by utilizing the collective experience of quantitative professionals, extensive client feedback and Knight's unique liquidity. This collaborative approach enables Knight to provide its clients with trading solutions that support their efforts to locate liquidity and seek best execution in a fragmented marketplace.
These algorithms also provide cost-effective trade execution for both buy-side and sell-side clients while maintaining market anonymity, lowering overall transaction costs and reducing market impact.
Knight Link™
Knight Link, a dark, electronic access point into Knight's off-exchange liquidity, had greater average daily share volume than any U.S.-based dark pool according to both TABB Group and Rosenblatt Securities Inc. (December 2008). Knight Link is ideal for clients looking for reduced market impact and high fulfillment rates. As a provider of rapid order execution in more than 7,300 Listed and NASDAQ securities, Knight Link offers clients liquidity in an unparalleled breadth of stocks – often in small-caps and hard-to-trade names. Knight Link can also significantly reduce transaction costs by saving clients exchange and ECN fees.
Knight Match®
Knight Match is a registered ATS providing anonymous access and trade execution at a low cost with opportunities to obtain significant price improvement. Clients have access to Knight's unique liquidity comprised of retail, institutional and algorithmic order flow, as well as flow from our mutual dark book relationships. Subscribers can benefit from Knight Match's strength in small- to mid-cap stocks across a wide range of sectors, as well as access to a team of dedicated client service professionals focused on providing connectivity and workflow solutions.