MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, August 7, 2012 Have Firms Regained their Faith in Knight Capital? Two firms seem to feel it's safe to start trusting Knight Capital again — at least a little at a time. Vanguard Group [profile] and E*Trade Financial have resumed sending a portion of their retail customer orders to the lead market maker, reports the Wall Street Journal. In a statement Monday, Vanguard stated, "based on steps taken to address Knight Capital's needs, Vanguard Brokerage Services has begun routing a portion of its retail brokerage orders to the firm." However, it did not reveal what portion of its orders it is routing to Knight. However, others are not so quick to recover their faith. That includes LPL Financial which "has not resumed trading through Knight Capital. We continue to assess the situation closely," a spokesman said. Vanguard and E*Trade aren't the first to resume sending orders through Knight Capital. TD Ameritrade Holding Corp. and Scottrade sent orders to Knight Capital starting Friday. A TD Ameritrade spokeswoman said the company has "a longstanding order routing relationship with Knight, and we continue to have one." Printed from: MFWire.com/story.asp?s=40861 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |