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 |
|
Thursday, August 9, 2012 Knight Back on Its Trading Throne Knight has recovered after losing ETF trading volume during the glitch last early this week. The Wall Street Journal reports that Knight was back to its throne as the second-biggest trader of ETFs by share volume by Tuesday. Competitors stepped in during Knight's dark days, such as Goldman Sachs, which boasted higher trading volume than Knight's at the end of last week. “I’m sure all market makers are trying to take advantage of this," Timothy Strauts, Morningstar ETF analyst, said. "If you’ve got a wounded competitor, you’re going to be taking market share when you can." Adam Patti, IndexIQ chief executive, said borkers stepped in to provide market liquidity while Knight was having issues. Knight is IndexIQ's lead market maker. “The industry was generally very cooperative last week," Patti said. "We were nervous about what was happening, and we’d call around to other banks to see if they’d keep an eye on these funds. It was all about trying to protect the investors.” Printed from: MFWire.com/story.asp?s=40877 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |