Knight Capital Group Relaunches ValuBond Electronic Fixed Income Trading Solution as Knight BondPoint(TM)
24 Enero 2008 - 7:00AM
PR Newswire (US)
Relaunch follows a series of upgrades and enhancements to market
access and trade execution services for fixed income securities
JERSEY CITY, N.J., Jan. 24 /PRNewswire-FirstCall/ -- Knight Capital
Group, Inc. (NASDAQ:NITE) today at LaSalle's 26th Annual Fixed
Income Symposium relaunched its ValuBond electronic fixed income
trading solution as Knight BondPoint(TM). Knight acquired ValuBond,
a privately-held fixed income ECN and provider of front-end fixed
income trading applications for retail brokerage firms, in July
2006. The relaunch follows the completion of several initiatives
including technology upgrades, product enhancements and team
additions as well as the full integration with Knight's
comprehensive market access and trade execution services. "Given
the growth in demand among retail investors for fixed income
securities, brokerage firms are under pressure to reduce manual
processes and provide clients with quality trade executions," said
James P. Smyth, Executive Vice President of Knight Capital Group.
"Knight BondPoint was developed to provide retail brokerage firms
with access to centralized liquidity and cost- efficient,
electronic trade execution services." 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, Knight BondPoint also provides a fully customizable
front-end application allowing financial advisors and brokers to
easily search, analyze and execute trades for municipals,
corporates, agencies, treasuries, medium term notes, structured
products, auction rate securities and certificates of deposit.
"Knight BondPoint's product suite provides our clients with tools
that take a lot of the inefficiencies out of fixed income trading
in smaller, retail-size lots," said Marshall A. Nicholson, Director
of Knight BondPoint. "Our fixed income trading solutions can be
integrated into both proprietary and third party systems, enabling
our clients to automate trading, compliance, clearing and other
processes." Recent Initiatives In 2007, Knight relocated ValuBond's
data center to its Jersey City, NJ headquarters and also upgraded
disaster recovery facilities. Recent Knight BondPoint enhancements
include compliance functionality, consisting of exception
reporting, trade execution documentation and archival. Further,
Knight BondPoint expanded its dedicated sales team and implemented
cross selling initiatives with Knight that has resulted in a number
of new clients from the firm's sell-side client base. "As a result
of the technology integration, we have not only added scale to our
solutions, but also offer new and cost efficient ways to access
Knight BondPoint by leveraging Knight Capital Group's extensive
connectivity infrastructure," added Nicholson. Planned enhancements
to Knight BondPoint include upgrades to Knight BondPoint's
structured products module and also workflow and execution
solutions for auction rate securities and unit investment trusts.
The U.S. Fixed Income Market The U.S. fixed income market is one of
the largest securities markets in the world with more than $29.2
trillion in outstanding debt according to SIFMA as of September 31,
2007. The average daily dollar value traded rose from $274.0
billion in 1996 to $508.9 billion in 2001 and $889.8 billion in
2006. According to industry analysts, the retail fixed income
market accounts for approximately 70 percent of the total fixed
income transactions and is expected to expand as 75+ million baby
boomers enter retirement and begin shifting investment assets from
growth to preservation strategies. About Knight Capital Group
Knight Capital Group, Inc. (NASDAQ:NITE) is a leading financial
services firm that provides electronic and voice access to the
capital markets across multiple asset classes for buy-side,
sell-side and corporate clients, and asset management for
institutions and private clients. Our Global Markets business
offers superior execution quality through natural liquidity,
capital facilitation and trading technology, with comprehensive
products and services that support the capital formation process.
Our Asset Management business, Deephaven Capital Management, is a
global multi-strategy alternative investment manager focused on
delivering attractive risk-adjusted returns with low correlation to
the broader markets. More information about Knight can be found at
http://www.knight.com/. DATASOURCE: Knight Capital Group, Inc.
CONTACT: Margaret Wyrwas, Senior Managing Director, Communications,
Marketing & Investor Relations, +1-201-557-6954, , or Kara
Fitzsimmons, Director, Media Relations, +1-201-356-1523, , or
Jonathan Mairs, Vice President, Corporate Communications,
+1-201-356-1529, , all of Knight Capital Group, Inc. Web site:
http://www.knight.com/
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