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Rating:ETF Roundup: The Godfather of ETFs Leaves Knight Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 05, 2013

ETF Roundup: The Godfather of ETFs Leaves Knight

News summary by MFWire's editors

The NYSE Euronext announced the launch of a program that allows fund companies to subsidize market making in ETFs investors won't trade, Barrons' Brendan Conway writes. These lonely ETFs face what Conway calls a "chicken-egg" problem, because first, investors have to be won over, but you only win over investors by having a bunch of investors already.

Departure of the "Godfather of ETFs"

Reggie Browne, managing director of Knight Capital Group's listed derivatives group, or "Godfather of ETFs" was unable to agree to terms of a new contract, Barrons' Brendan Conway reports. Eric Lichtenstein and Darren Traube are also leaving, another of Conway's sources confirms. Browne made his mark by making ETFs tracking illiquid markets trade well in spite of those underlying markets, Conway writes.

To read more, click here and here

Edited by: Casey Quinlan

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