LOL. Those scoundrels only "downgrade" a stock when they want to scoop up its shares at a discount price. Then lo and behold, after a beaten up stock goes up 50-60% after their downgrade, they issue an "upgrade" to dump their shares.
It's kind of like the Big-Boys' version of the dinky li'l pump-and-dump scams run by the petty thieves who call themselves CEOs of all these crappy OTC companies.
Here's KCG's stats for October. With $5.5 billion cash on their books, and business like this, they ain't gonna be foregoing their +$100 million Xmas bonuses they pay out to their top traders each year!
Knight's equities volumes were as follows: Average daily U.S. equities dollar volume traded in October 2011 was $32.5 billion, up approximately 1.2% from $32.1 billion in September 2011 and up approximately 26.2% from $25.8 billion in October 2010. Average daily U.S. equities trade volume in October 2011 was 4.8 million, up approximately 3.7% from 4.7 million in September 2011, and up approximately 33.2% from 3.6 million in October 2010. Average daily U.S. equities share volume in October 2011 was 3.1 billion, down approximately 9.0% from 3.4 billion in September 2011, and down approximately 55.7% from 6.9 billion in October 2010.
Knight Direct recorded average daily equities share volume in October 2011 of 211.1 million, up approximately 10.9% from 190.3 million in September 2011, and up approximately 26.8% from 166.5 million in October 2010.*
In equities, there were 21 trading days in October 2011, September 2011 and October 2010.
Foreign Exchange
Hotspot FX recorded average daily notional dollar value traded in October 2011 of $68.3 billion, up approximately 0.2% from $68.1 billion in September 2011, and up approximately 54.5% from $44.2 billion in October 2010.
In foreign exchange, there were 21 trading days in October 2011, 22 days in September 2011 and 21 days in October 2010.
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