|DECEMBER 31, 2010|
|Knight Completes Acquisition of the DMM and LMM Units of Kellogg Capital Markets|
JERSEY CITY, N.J., Dec. 31, 2010 /PRNewswire via COMTEX/ --
Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced the completion of the acquisition of the Designated Market Maker and Lead Market Maker units of Kellogg Capital Markets, LLC. Terms of the acquisition were not disclosed.
"We are pleased to acquire the market-making units of Kellogg Capital Markets and increase our responsibilities at the New York Stock Exchange," said Thomas M. Joyce, Chairman and Chief Executive Officer, Knight Capital Group. "The addition strengthens Knight's core in U.S. equities including ETFs. We are exceptionally well qualified, given our history and capabilities, to join the select group of market makers at the world's leading exchange."
Kellogg Capital Markets is a former subsidiary of Kellogg Group, LLC. At the start of trading on January 3, 2011, Knight will assume responsibility for making markets in approximately 765 NYSE- and NYSE Amex-listed securities as well as 400 exchange-traded funds and structured products on NYSE Arca. In connection with the close of the acquisition, Kellogg's Charles P. Dolan was named Managing Director, Head of Knight's DMM operations.
"Knight's new DMM team has an extraordinary opportunity to combine exceptional client service with premier market-making technology," said Dolan. "We are focused on working to form deeper and more liquid markets for the benefit of our issuers, investors and the overall market."
Knight operates as a market maker in NYSE, NYSE Amex, NASDAQ and OTC Bulletin Board securities.
Knight Capital Group (NYSE Euronext: KCG) is a global financial services firm that provides access to the capital markets across multiple asset classes to a broad network of clients, including buy- and sell-side firms, and corporations. Knight is headquartered in Jersey City, N.J. with a growing global presence across the Americas, Europe, and the Asia Pacific region. For further information about Knight, please visit www.knight.com.
Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict including, without limitation, risks associated with changes in market structure, legislative or regulatory rule changes, the costs, integration, performance and operation of businesses recently acquired or developed organically, or that may be acquired in the future, by the Company and risks related to the costs and expenses associated with the Company's exit from the Asset Management business. Since such statements involve risks and uncertainties, the actual results and performance of the Company may turn out to be materially different from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made herein. Readers should carefully review the risks and uncertainties disclosed in the Company's reports with the U.S. Securities and Exchange Commission (SEC), including, without limitation, those detailed under the headings "Certain Factors Affecting Results of Operations" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year-ended December 31, 2009, "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter-ended March 31, 2010, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time. This information should also be read in conjunction with the Company's Consolidated Financial Statements and the Notes thereto contained in the Company's Annual Report on Form 10-K for the year-ended December 31, 2009, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time.
SOURCE Knight Capital Group, Inc.