做市商，骑士资本集团因为技术漏洞亏了4.4亿，现在找下家

limkky

真是常在河边走，没有不湿鞋的。为什么一个小小的软件问题引起这么大的亏损。因为这家做市商的交易部主要帮助高频交易基金做市。出了软件问题以后，这些高频交易基金肯定发现了这个漏洞，然后一窝蜂把吃死这家公司。真是与虎谋皮啊。
Seeking survival, Knight Capital opens its books to potential suitors

Cristina Alesci, Bloomberg News | Aug 3, 2012 3:15 PM ET | Last Updated:Aug 3, 2012 3:31 PM ET
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KKR & Co., TPG Capital and Silver Lake are among the buyout firms that have initial interest in making an investment in Knight Capital Group Inc., according to two people with knowledge of the matter.

The firms are taking a preliminary look at Knight and chances of a deal are small since Knight’s future is uncertain, said one of the people, who asked not to be named because the process is private.

Knight, seeking a deal to survive a US$440-million trading loss, has already opened its books to suitors, said two people with knowledge of the matter.

The trading problem is estimated to have cost the firm about US$10-million a minute.

Bank of America Corp. also was among several potential partners in talks with Knight yesterday, said another person with knowledge of the matter. Knight is working with Sandler O’Neill & Partners LP as an adviser on the rescue talks, according to another.

Representatives at TPG, KKR and Silver Lake declined to comment. John Yiannacopoulos, a Bank of America spokesman, declined to comment.

Knight Capital told brokers it obtained short-term financing to fund market making, giving the firm money for today, said a person with knowledge of the matter.

Jersey City, New Jersey-based Knight, one of the biggest U.S. market makers, is exploring strategic and financial alternatives after a software malfunction cost the company almost four times what it earned last year. The firm’s shares lost 75% in two days after its computers flooded the market with unintended trades, sending dozens of stocks into spasms.

The incident is the latest in a series of market snafus that are driving up volatility and undermining public confidence. They include the troubled Facebook IPO in May, the failed IPO of exchange venue BATS Global Markets in March and the Flash Crash in May 2010.

limkky

最终，骑士还是把自己卖给了4家公司解决问题。可笑的是，Bloomberg的主持人事前非常肯定地说PE不可能救骑士，结果现在4家公司里的一家就是PE，2家broker,另一家是对手坐市商。


Four firms to inject $400m into Knight
By Michael Mackenzie, Dan McCrum and Tracy Alloway in New York

A consortium of four firms was preparing on Sunday to pump $400m into Knight Capital through a convertible share placement that will give them control of the broker, according to sources familiar with the deal.

The agreement involves Blackstone Private Equity; Getco, which has private equity group General Atlantic as a minority owner; Ameritrade; and Stifel Nicolas buying $400m of convertible shares with a fixed coupon of 2 per cent with the right to buy shares in Knight at $1.50, well below its closing price of $4.05 on Friday.