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KCG - It will be interesting to see if there is a correlation.
Does anyone think there is a correlation here??
SevenTenEleven Share Monday, October 24, 2011 7:39:26 AM
Re: fourkids_9pets post# 7410 Post # of 7417
Does anyone think there is a correlation here??
Multivision's Nazerali wins order against U.S. site
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:MTV-1891609&symbol=MTV&news_region=C
Jamil Nazarali, Senior Managing Director, Knight Capital Americas, L.P., responsible for the Electronic Trading Group (ETG), has resigned effective today. (2/28/2011)
http://investorshub.advfn.com/Boards/read_msg.aspx?message_id=67874626 - Eternalist
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68245615
BMFL<OD
next week(s) is here
UPDATE: Direct Edge Exchanges Hit With SEC Sanctions
BY Dow Jones & Company, Inc.
— 5:23 PM ET 10/13/2011
--Regulators say Direct Edge exchanges broke rules, made errors
--Millions of dollars in trading losses blamed on violations, says SEC
--Direct Edge says it is responding, takes exchange obligations seriously
By Jacob Bunge
Of DOW JONES NEWSWIRES
The U.S. Securities and Exchange Commission on Thursday sanctioned electronic stock exchange operator Direct Edge for violations and deficiencies that drove millions of dollars worth of customer trading losses, according to regulators.
Regulators charged that in 2010 the company helped exchange members fix erroneous trades driven by an "untested computer code," breaking rules around short-selling and Direct Edge's own guidelines as an exchange, according to regulators.
In a separate incident last April, an employee error disrupted Direct Edge's trading systems, which the company failed to remedy before millions in losses mounted for customers, regulators said in a statement Thursday.
"Direct Edge was required to police not only its members' conduct, but its own conduct as well," said Robert Khuzami, director of the SEC's division of enforcement, in a statement.
The two stock exchanges run by Direct Edge, as well as its order-routing unit, were censured and agreed to take "remedial measures," according to a notice from the SEC.
In a statement, Direct Edge said it had formed a plan to fulfill its markets' obligations as SEC-regulated exchanges, and had made "significant" investments in technology and staff.
"Our entire organization stands committed to these efforts and conducting ourselves as a model exchange operator," representatives of the company said.
Based in Jersey City, N.J., Direct Edge runs the newest of the 13 full-fledged stock exchanges operating in the U.S., having converted its electronic platforms to exchange status in July 2010. Its EDGA and EDGX platforms account for approximately 9.9% of daily trading in domestic shares this month, according to data from BATS Global Markets.
The company is about one-third owned by the International Securities Exchange, the U.S. options unit of Deutsche Boerse AG (DBOEF) .
Trading firms Knight Capital Group Inc.(KCG) and Citadel LLC also own stakes, along with Goldman Sachs Group Inc. (GS) and J.P. Morgan Chase & Co. (JPM).
Direct Edge cooperated with the SEC probe and agreed to settle cease-and- desist and administrative proceedings without admitting or denying fault in the matter, according to regulators.
-By Jacob Bunge, Dow Jones Newswires; 312 750 4117; jacob.bunge@dowjones.com
(END) Dow Jones Newswires
10-13-11 1723ET
Copyright (c) 2011 Dow Jones & Company, Inc.
Can't wait...Stop the THEFT......et z
KCG - Is Knight diluting its own stock? Or just creating artificial dilution of other companies' stocks?
KCG - No information in the charts on iHub for Knight. All blank.
Could be an interesting week for those short selling securities without ever intending on borrowing shares to back up their position.
"Creating a Market" is the term they hide behind.
Should get interesting.
next week(s) is here SHORTMAN! - Bull Finch
Wonder how short NITE is for many of their plays?
What tactics will the deploy to attempt to cover and/or close out retail positions?
Will the SEC finally shut them down or the DTCC force them to cover?
Tic Toc
next week(s) is here SHORTMAN!
BMFL<OD
next week(s) is here
KCG is GOING... DOWN...
KCG IS DILUTING RIGHT NOW ADDING SHARES LIKE THE PRINTING PRESS WILL NEVER RUN OUT OF INK...
SELL NOW BEFORE ITS TO LATE... WHEN THE SEC COMES OUT THEY WILL BE PUTTING A BIG PAD LOCK ON THE DOOR TO THIS POS...
KCG = DILUTION MACHINE!
GET OUT WHILE YOU STILL CAN... RUN I SAY RUN!!!
KCG is a Pink flipping machine, they will stop at nothing to rappe the stocks and hang investors out to dry, all part of their true investing strategy to rap investors of their hard earned money, by manipulating stocks shorting them every chance they get.
This company is a PoS that abuses the stock market by taking profits away from companies that are trying to grow.
KCG uses unscrupulous business practices in order to achieve their financial goals on the backs of true investors.
Their theme song should be Flipper!
Hope ABBA follows them down the drain.......et z
NITE is losing their butt's soon enough they will be gone or imv in prison for all the shorting they have been doing...
So nite nite Knight! Hope your prison terms are long and strong just like your shoring career is.
These people are a group of thieves... I don't know why they have gotten away with it this long!
The SEC will be knocking on their door very very soon!
DOWN SHE GOES!
Wish the same thing would happen to ABBA....that boy is one shorting fool......z
LOL NITE GOT STUCK WITH 1,806,020,032 SHARES OF SNRS STOCK
I talk to a lot of people......forgot where I heard that......but it stands to reason, giving the massive decline in share price........z
A current Wells Notice? Where did you get that info? I could not find it.... Sounds good to me, it been how long since the last one? 10 - 12 years?
NITE is going DOWN......lol......Heard they got a Wells Notice....or 5.......lmao.........z
god knows on the OTC .. no MM does
the bait and switch better than NITE
for a fact .. and while it's a little early to call
the *next* hand off on the OTC .. is well underway
check the stats as some *entity* is quietly *weaning* MM NITE
off of the OTC .. i started noticing it about 4 months ago on
specific stocks .. again how ironic that co.s that have been
destroyed for profit .. where MM NITE was the PRIMARY MM
apparently don't have the same *pull* with the SEC as KNIGHT
itself does .. nah not really *surprising* .. how many go to
work for KNIGHT SECURITIES? .. nothing like conflicts of interest
being swept aside and a moral compass in the toilet
here's to what is revealed *specifically* in 2011 if they aren't
completely compromised
NITE'S ACTIVITY MONTH BY MONTH 2010
==
4kids
all jmo
Move the Money!
Before it's too late!
BMFL<OD
next week(s) is here
Bait and Switch
BMFL<OE
next week(s) is here
Add the antennae:
Press Release Source: Knight Capital Group, Inc. On Friday December 31, 2010, 4:15 pm EST
JERSEY CITY, N.J., Dec. 31, 2010 /PRNewswire/ -- 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.
About Knight
Tinfoil Hat Time:
Knight Capital Merges Subsidiaries
By Maria Woehr 12/31/10 - 12:00 PM EST
NEW YORK (TheStreet) -- Knight Capital Group(KCG_) is merging its broker-dealer subsidiaries under three names, according to a company statement.
The broker dealers will be merged under the names Knight Capital Americas and Knight Execution & Clearing Services LLC.
Knight Capital Americas will consist of Knight Capital Markets LLC, Knight Libertas LLC and Knight Equity Markets. Knight Execution & Clearing Services LLC will consist of Knight BondPoint and Knight Direct LLC into Knight Clearing Services LLC.
"As we continue to grow and evolve, we're working to strengthen the Knight brand in the global marketplace," said Thomas M. Joyce, Chairman and Chief Executive Officer, Knight Capital Group in a press release. "Rationalizing the U.S. corporate structure is a move toward simplifying the organization and presentation of the client offering."
==============================
DECEMBER 31, 2010
Knight Consolidates U.S. Broker-Dealer Subsidiaries
Forms successor subsidiaries Knight Capital Americas, L.P. and Knight Execution & Clearing Services LLC
JERSEY CITY, N.J., Dec. 31, 2010 /PRNewswire via COMTEX/ --
Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced the consolidation of U.S. broker-dealer subsidiaries into two entities, Knight Capital Americas, L.P. and Knight Execution & Clearing Services LLC, effective January 1, 2011.
"As we continue to grow and evolve, we're working to strengthen the Knight brand in the global marketplace," said Thomas M. Joyce, Chairman and Chief Executive Officer, Knight Capital Group. "Rationalizing the U.S. corporate structure is a move toward simplifying the organization and presentation of the client offering."
Knight will merge Knight Capital Markets LLCand Knight Libertas LLC into Knight Equity Markets, L.P., which will be renamed Knight Capital Americas, L.P. Similarly, Knight will merge Knight BondPoint, Inc. and Knight Direct LLC into Knight Clearing Services LLC, which will be renamed Knight Execution & Clearing Services LLC.
Knight Capital Americas, L.P. and Knight Execution & Clearing Services LLC are registered with the SEC and are members of FINRA and other SROs. In addition, Knight's U.S. broker-dealers are members of all major domestic exchanges and marketplaces covering stocks, options and futures.
Knight's non-U.S. broker-dealer subsidiaries are Knight Capital Europe Limited and Knight Capital Asia Limited.
About Knight
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.
[ back to press releases ]
The matters described within the Investor Relations section of the Knight Capital Group (the "Company") Web site contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control, which could cause actual results to differ materially from historical results, performance or other expectations and from any opinions or statements expressed with respect to future periods. These factors include, but are not limited to, the Company's ability to implement its growth strategies, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, intellectual property rights, and other factors detailed in the Company's registration statement and periodic reports filed with the Securities and Exchange.
What would happen to KCG / Knight Capital if HESG reversed merged with Data Health Systems, Inc. and Gordon Getz?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56397143
Caveat Venditor -This is why Data Health Systems, Inc. would want to do a reverse merger with Health Sciences Group, Inc.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56404308
What will happen to Knight Capitals Price Per Share, when that happens?
It will drop like falling rocks!
Where would we be without Knight? HESG'RICH!
Good Job! Rakos, I didn't know you were so gifted
Ha! that's some good HESG!
Excuse my last post, I couldn't afford my pinksheet spellcheck subscription...
If pictures can say a Million words.... My favorite HESG pics Do!
We are setting up for a HUGE run..... even better then last year! Take a peak at this green volume... Do you know what that is? MANIPULATION! Thats why it didn't fly last time with billions traded!
Lets me show you some of my HESG Pics...
As you can see clearly Buys are painted as sells....Be began marking our buys to tell the difference.... 420 way back then. ~ 11:11
You want to make some money? Short Knight Capital when HESG shoots for the MOON!
Notice drop in NITE's PPS when HESG was allowed to run!
What's my realistic call on HESG PPS? I don't have one, sky is the limit! But .0080 might be a decent place to start!
You can thank the Savi Investors at www.007stockchat.com for these pics! Don't worry Rakos had nothing to do with them...Ha!
Nay sayers... Say what you like, I got the goods on NITE...... and it's a matter of Principle and it's Personal! Go Gaffney, show them how it is done!
as someone so eloquently put it
pot meet kettle .. the nerve of nite
never ceases to astound
here's to knight's obliteration
it can't come soon enough for me
but b4 that event *transpires* i'd
like that THE SEC BE COMPELLED to
actually have to answer this question
(since imo they both aid and abet knight
amongst *select* others)
has knight securities been served with
a wells notice (this time last year?)
and did knight securities take a *stake*
in a stock msg board back in early 2007?
if so .. would that be *considered* a conflict
of interest re: their monopolistic endeavors on
the OTC .. and the usual side venture with those
hedgies re: NSS .. (which cox finally had to admit
actually exists .. a mere 2 years ago) .. hmmm
suspect schapiro is still *placating* tho' khuzami
seems intent and *focused*
--
4kids
all jmo
Thanks a lot buddy..
Thanks-KCG Knights Total Share Volume 2009 = 102,111,888,865
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=mp&Issue=NITE&SortBy=volume&Month=12-1-2009&IMAGE1.x=22&IMAGE1.y=5
HESG 2009
HEALTH SCIENCES GR = 21,362,816,942
Thats Knight folks
2009 HESG = 20% of NITE's Traded Volume
2010 HESG = 10% of NITE's Traded Volume
Two more months... It will be closer to 40%-50% of all Knights trades will be HESG!
HESG vs. Them....
Knight Capital Group- OTC Bulletin Board
This photo showcases the Over The Counter Bulletin Board traders
WTF they want how many HESG? We can't do that!
Listen up...All of you get on the Ihub and bash that Shiet!
Trading HESG is not so good for your hair!
We still have Gaffney locked up? GOOD! Keep him away as long as possible.
Just between you and me...I just need to borrow another billion shares.
Ohh Shiet....here come the flippers.
Please...Please...Please... Stop Buying!
I can not believe this is happening all over again!
Thumbs up.... we only have 13 Billion more HESG shares to cover!
Get Jungle on the phone...HESG longs are not selling!#$#@#
Hi ICE its me Princess... I have the numbers you wanted.
Ya Scottraid can you place another halt on HESG... We need more time!
Americas Finest Marker Makers Knight Capital...
Knights OTC section
What do I do? No... bid? NO it didn't work last time they will just buy more!
HESG is NITE's Most Loved and Traded Investment!
Love & LITE Back At You!
As always, Great info Ice ...
What is Naked Short Selling? Threshold Securities - Reg SHO is a failure!
http://paiv.com/
Icequity.... Check SLNM, TEVE, IHCH,UGLB and IMTO out.... NITE has shorted very long time...
Thanks Icequity... Well done..
Knight Capital Urges Short-Selling Leniency for U.S. Stock Market Makers
http://www.bloomberg.com/news/2010-09-27/knight-capital-urges-short-selling-leniency-for-u-s-stock-market-makers.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55517316
Greetings Nina Mehta & Nick Baker,
"Market makers sometimes can’t sell stock in response to demand because some securities that aren’t actively traded are hard to borrow", Well if it is hard to borrow, maybe they should stop borrowing them.
My name is Mic Stockwell from Los Angeles, and I'm just an everyday investor. I'm writing you today to try and influence you in helping me make this story publicly known to the investment community.
I would like to know what gives a Market Makers a right to short penny stocks? Why is it legal for the CEO of a brokerage house to also serve on the board of a market maker like Knight Capital? I'm referring to Rodger Riney CEO of Scottrade... also being a President for Knight? Scottrade loans our shares out to Knight without our permission, and then they use our stocks to short against us. We are just asking for a little fairness, could you help the everyday investor in changing market for the better?
http://www.equitiesmagazine.com/interview_rodger_riney.php
Rodger Rinney Achiever of the Year
Did you know Bernard Madoff also won this award....Go figure!
I would like to give you some numbers of a certain stock Knight Capital shorted and the same stock Scottrade placed a buy halt on.
Health Sciences Group - HESG
Roughly 40 Billion HESG shares were traded in 2009 with 600 Million float and 2.2 Billion Shares Outstanding.
Can you find out why Knight thinks they can short a stock like this, buy selling billions and billions of "air shares" diluting the stock price with all these phantom shares?
As you will see Knight Equity Markets, L.P. traded over 21,362,816,942 HESG shares in 2009
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=hesg&SortBy=volume&Month=12-1-2009&IMAGE1.x=17&IMAGE1.y=6
Transfer Online
Transfer Agent for HESG
512 SE Salmon
Portland, OR, 97214
503-227-2950
http://www.transferonline.com
Where is the transparency SEC had promised? What information are we supposed to believe when they can't even get the correct information themselves?
Pinksheets HESG Short Sale Data
Date / Short Interest /% Change /Avg. Daily Share Volume /Days to Cover /Split /New Issue
?Nov 13, 2009 500,000/100.00/ 416,286,196/ 1.00/ No/ No
?Nov 30, 2009 33,537/ -93.29/ 1,202,490,600/ 1.00/ No/ No
http://www.otcmarkets.com/stock/HESG/short-sales
Finra HESG Short Sale Data
20091113|HESG|160,686,123|416,393,152|O
20091130|HESG|142,224,948|868,823,153|O
Nov 13, 2009 - 500,000 vs. 160,686,123 difference only of 160,186,123
Nov 30, 2009 - 33,537 vs. 142,224,948 difference only of 142,191,411
HESG Security Details
Share Structure
Market Value1 $220,000 a/o Oct 05, 2010
Shares Outstanding 2,200,000,000 a/o Mar 09, 2009
Float 600,000,000 a/o Mar 09, 2009
Authorized Shares 5,000,000,000 a/o Mar 09, 2009
Par Value 0.0010
20091103|HESG|763,703,064|1,321,101,443|O
Last Reported HESG Float 600,000,000 vs. 763,703,064 difference only of 163,703,064 short sales above the shares available to the traded public.
http://regsho.finra.org/FORFshvol20091103.txt
Thank you for addressing this thievery.... You will have many thankful investors if you do!
Best Regards,
Mic Stockwell A.K.A. ICEQUITY
Founder LITE Capital Communications
http://www.litecapital.com
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55517316
According to the SEC rule. If anyone or some group investor has more than 3% of O/S that means you will be able to have a seat from board meeting... Other way is the SEC let us to fight with MM's or lets put this way the SEC says they didnt stop the MM's and SEC let us to fix this system..
thanks for the input .. i still can't get over
the *timing* and imo *deflection* offered up *NOW*
by knight in this article
i want to know why now and what event *made this
come about specifically* .. they never do anything
without a reason .. including sucking up to various
entities
NITE ON *TRADER* MANIPULATION
--
4kids
all jmo
4kids.... TEVEs 85% held by Billionaire Gerry Lenfest ,,, Bye the way NUTE has shorted more than float last ten years .. Almost done buddt..
i'll add it to my l2 and watch
haven't done anything but check
last month's volume via MM's
and no surprise by a 3 to 1 margin
nite was the head manipulator
will add to my list
best of luck with it
--
4kids
all jmo
Well.... How long Nite has been manipulating OTC ?? I saw their PR last sunday night ... It's really funny.. He has done same thing over and over , NITE blames us...... I ve been on TEVE last 8 years and still NITE has shorted. But almost done..
nite took over on the OTC .. back in may 2007
i just find it telling that their monopoly has
been *tacitly* encouraged by the *inactions* of
the SEC .. in a market where few eyes exist to
*observe* irregularities and flat out fraud
and
i find particularly disingenuous of the master
market manipulator that they are now *blaming*
traders .. i'd say it's more likely due to ms.
schapiro going after the unregulated hedge funds
who *love* to bash for cash where few eyeballs are
in place
--
4kids
all jmo
We have been dealing with NITE last ten years ..
will do .. took a quick look at
finra's MM monthly volume and
per usual nite *controls* all aspects
wonder when the SEC addresses nite's
monopoly on the OTC .. what a system
--
4kids
all jmo
4Kids... Check TEVE board out... We are dealing with NITE as well..
If you are looking NITE ... I want you to check TEVE board...
Bull Finch, I guess NITE doesn't like when traders create a market and prevent the market maker from covering their short shares at the bid or lower.
Tic Toc
the timing of this article is rather interesting
thanks for posting this
very much appreciated
---
4kids
all jmo
Traders manipulating cheap stocks: market maker
Knight Capital Group, Inc.
KCG.N
$12.49
-0.13-1.03%
By Jonathan Spicer
WASHINGTON | Sun Sep 26, 2010 6:40pm EDT
WASHINGTON (Reuters) - Some traders are manipulating U.S. stocks that are worth less than $1 by taking both sides of trades in order to earn big rebates, according to an official at Knight Capital Group Inc (KCG.N).
Knight, a top U.S. market maker for individual investors, and the other four largest market makers discussed this problem with federal securities regulators on Thursday, Jamil Nazarali, Knight's global head of electronic trading, told reporters on Friday.
"It happens for hundreds of millions of shares per day," Nazarali said, adding that this type of market manipulation is hard to prove. The gaming costs Knight "tens of thousands of dollars" per day on some days, he said on the sidelines of a Security Traders Association conference here.
Nazarali added that U.S. Securities and Exchange Commission officials "seemed empathetic" to the concerns of the five firms that execute much of the orders of individual, or retail, investors -- Knight, UBS AG (UBS.N), Citadel Investment Group, Citigroup Inc (C.N), and E*Trade Financial Corp (ETFC.O).
SEC spokesman John Heine neither confirmed nor denied the meeting. He did not comment on gaming in sub-dollar stocks.
The manipulation concerns come months after the May "flash crash" stoked a debate over fairness in the mostly electronic marketplace, which has grown faster and increasingly complicated in the last decade.
At issue is whether an individual trader is using separate brokerage accounts to trade against himself, something known as a wash trade. Shares that regularly trade below $1, such as Sirius XM Radio Inc (SIRI.O) and Level 3 Communications Inc (LVLT.O), are the typical targets, Nazarali said.
Exchanges charge fees to those that execute against standing buy and sell orders, something called a take fee, and pay rebates to those that provide standing orders that are executed against. This is known as "maker-taker" pricing.
While stocks are normally priced in penny increments, rules adopted five years ago allow exchanges to price sub-dollar stocks in one-hundredth of a cent. The fees and rebates, however, are based on penny increments for all stocks, including sub-dollar stocks -- which creates a possible loophole through which traders can earn out-sized rebates.
A trader can, for example, send a "limit order" bid through one brokerage account, and a corresponding "market order" to sell that same stock in another account. After trading with himself, the trader earns the bid's rebate and pays the smaller selling fee -- which is usually fixed at retail brokers like E*Trade -- and walks away with the difference.
In this scenario, market makers such as Knight would foot much of the bill.
For a short period earlier this year, large exchanges paid outsized fees and rebates in sub-$1 stocks, but did away with it in the spring after protests from market makers, said William Karsh, chief operating officer at exchange operator Direct Edge.
The smaller CBOE Stock Exchange, or CBSX, offers the out-sized rebates now. The exchange, run by Chicago-based CBOE Holdings Inc (CBOE.O), has seen its market share rise in sub-dollar stocks this summer.
"CBOE takes its regulatory responsibility very seriously and does investigate unusual trading activity," a CBOE spokeswoman said. "However we do not comment on individual investigations."
Nazarali said Knight has reported this activity to regulators on a daily bases in recent weeks, and has brought it to the attention of the Financial Industry Regulatory Authority.
"It is really damaging to investors," Nazarali told reporters.
The SEC in recent weeks said it is probing trading and quoting activity for evidence of market fraud and manipulation. In a comprehensive paper issued in January, the agency asked whether pricing in the market is problematic.
(Reporting by Jonathan Spicer, editing by Martin Golan)
BMFL<OD
next week(s) is here
Last edited by Bull Finch (Today 12:33:05)
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Index » Naked shorting victims » What actions can be taken to cause (ANSS) to cover
How it eventually affects Pinkies is anyone's guess
NASCOW Share Tuesday, August 10, 2010 1:47:08 PM
Re: None Post # of 39788
Tuesday, August 10th, 2010
NASDAQ
by Roger Schultz
A new, stock clearing house will open in the U.S. in March that will right many of the wrongs perpetrated by the market makers, brokers, and hedge funds conducting business on the NASDAQ and OTC markets. The NASDAQ OMX has been approved to start the clearing of stocks next month. Currently, 92% of all stocks in the U.S. markets are cleared by the DTC, which is an arm of the Federal Reserve.
The problem for the market makers, brokers, and hedge funds, is all of their NSS (naked short selling) will have to be covered when companies jump to the No Nonsense NASDAQ OMX from the DTC, that for years looked the other way when this practice occurred.
A naked short sell is perpetrated when a buy order is placed by an individual for a stock and a market maker pulls those stocks out of thin air and puts the imaginary stocks into the individuals broker account. This practice has bankrupted countless marginal companies in the last 8 years. Many, if not most market makers are owned by the large banks and brokers on Wall street.
This practice of naked short selling artificially deluded the outstanding shares, making each share worth less causing a death spiral. At this point the brokers and hedge funds sell short, betting that the stock would further decline, which was a no brainer of course.
Almost all of these affected companies did not survive, at least in their original form. However, the companies that did survive this savage market manipulation will soon leave the DTC and join the new clearing house of the NASDAQ OMX. I know of one CEO that spent over 750K of his own money to save his shell OTC company from this type of manipulation and will most likely have a very healthy profit for his troubles.
When this transpires in March, ALL OF THOSE AIR SHARES MUST BE COVERED by the brokers or market makers AND all those hedge fund short sells MUST BE COVERED AS WELL.???
How it eventually affects Pinkies is anyone's guess for now......
Bederra Corporation (BEDA) Stock Trading Info:
BMFL
next week(s) is here
I can tell you what one of their internal crisis's may be. For 11 years I have bought TEVE.OB which has a float of 8 million. They have sold me and everyone else shares and I have seen a handfull of sells. They are usually on Friday night and are 400 or so shares in an effort to take it down. No one really sells TEVE.
The company is owned by a billionair and will be here a very long time. They pay a dividend and I know where the crisis is.
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Knight Capital Group, Inc. (collectively with its subsidiaries, "Knight" or the "Company") is a global financial services firm that provides access to the capital markets across multiple asset classes to a broad network of clients, including broker-dealers, institutions and corporations. The Company seeks to continually apply its expertise and innovation to the market making and trading process to build lasting client relationships through consistent performance and superior client service. The Company has four operating segments: (i) Market Making, (ii) Institutional Sales and Trading, (iii) Electronic Execution Services and (iv) Corporate and Other.
Market Making
The Market Making segment principally consists of market making in global equities and listed domestic options. As a market maker, the Company commits capital for trade executions by offering to buy securities from, or sell securities to, institutions and broker-dealers. The Market Making segment primarily includes client, and to a lesser extent, non-client electronic market making activities in which the Company operates as a market maker in equity securities quoted and traded on the Nasdaq Stock Market; the over-the-counter ("OTC") market for New York Stock Exchange ("NYSE"), NYSE Amex Equities ("NYSE Amex"), NYSE Arca listed securities; and several European exchanges. As a complement to electronic market making, the Company's cash trading business handles specialized orders and also transacts on the OTC Bulletin Board, the OTC Pink Markets and the Alternative Investment Market ("AIM") of the London Stock Exchange. The segment provides trade executions as an equities Designated Market Maker ("DMM") on the NYSE and NYSE Amex. The Market Making segment also includes the Company's option market making business which trades on substantially all domestic electronic exchanges.
Institutional Sales and Trading
The Institutional Sales and Trading segment includes global equity, exchange traded funds ("ETFs"), and fixed income sales; reverse mortgage origination and securitization; capital markets; and asset management activities. The primary business of the Institutional Sales and Trading segment is to execute and facilitate equities, ETFs and fixed income transactions as an agent on behalf of institutional clients, and commits capital on behalf of clients when needed. This is predominantly a full-service execution business, in which much of the interaction is based on the Company's client relationships. This segment also facilitates client orders through program and block trades and riskless principal trades and provides capital markets services, including equity and debt private placement.
Electronic Execution Services
The Electronic Execution Services segment offers access via its electronic agency-based platforms to markets and self-directed trading in equities, options, fixed income, foreign exchange and futures. In contrast to Market Making, the businesses within this segment generally do not act as a principal to transactions that are executed and generally earn commissions for acting as an agent between the principals to the trade.
Corporate and Other
The Corporate and Other segment invests in strategic financial services-oriented opportunities, allocates, deploys and monitors all capital, and maintains corporate overhead expenses and all other income and expenses that are not attributable to the other segments. The Corporate and Other segment houses functions that support the Company's other segments such as self-clearing services, including stock lending activities.
Discontinued Operations
Discontinued operations comprises costs associated with shutting down the Company's former Deephaven Capital Management business which was discontinued in 2009.
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