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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.
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