|APRIL 20, 2010|
|Knight Launches Oasis Small- and Mid-Cap Algorithm for European Equities|
JERSEY CITY, N.J. and LONDON, April 20, 2010 /PRNewswire via COMTEX/ --Knight Capital Group, Inc. (Nasdaq: NITE) today announced the launch of Oasis, a smart order execution algorithm that sources small- and mid-cap liquidity, for European equities.
Oasis uses innovative logic to source liquidity in thin and difficult-to-trade names with increased efficiency and opportunities for price improvement as well as greater fulfilment. The strategy evaluates liquidity, volatility, price trend, momentum and other characteristics in real time to determine the best sources of liquidity to help minimize market impact. Oasis also includes anti-gaming procedures such as continuous monitoring for adverse trading behaviour to further help minimize information leakage.
"Knight does not subscribe to a one-size-fits-all approach. That philosophy has led Knight to become an innovator in creating new categories of algorithms, including situation-specific algorithms like Oasis," said Bradley Duke, Managing Director at Knight. "Higher volatility, reduced liquidity and wider spreads are just a few of the challenges associated with trading small- and mid-cap stocks. Knight has deep expertise in these often thinly traded names as well as in the complexities of trading across the fragmented European marketplace."
Oasis is a new addition to Knight's Algorithmic Suite for European equities. The algorithms are powered by FAN(TM), a smart order execution algorithm which sources liquidity from multiple exchange and MTF destinations simultaneously while adapting to market conditions in real time and re-circulating orders to where executions are occurring.
Oasis and Knight's entire Algorithmic Suite are accessed through Knight Direct, Knight's multi-asset class execution management system, as well as through a number of third-party execution and order management systems via Knight Direct's FIX capabilities. To learn more about Knight's European algorithmic offering, please contact Bradley Duke at +44 20 7997 7818 or firstname.lastname@example.org.
Knight Capital Group, Inc. (Nasdaq: NITE) is a global financial services firm that provides market access and trade execution services across multiple asset classes to buy- and sell-side firms. Knight's hybrid market model features complementary electronic and voice trade execution services in global equities and fixed income as well as foreign exchange, futures and options. The firm is the leading source of liquidity in U.S. equities by share volume. Knight also offers capital markets services to corporate issuers. Knight is headquartered in Jersey City, NJ with a growing global presence across North America, Europe and the Asia-Pacific region. For more information, please go to www.knight.com.
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SOURCE Knight Capital Group, Inc.