Forbes Spotlights Knight Capital's ETF Market Maker
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Thursday, October 04, 2012

Forbes Spotlights Knight Capital's ETF Market Maker

Knight Capital's Reggie Browne has led the company to become one of the largest ETF traders.

Forbes reports that the managing director and senior trader is known as the 'master of liquidity.' He believes that "ETFs are the future of mutual funds; they just don't know it yet."

The trader's specialty is not trading giant ETFs but focusing on smaller ETFs with less than $1 billion in AUM. Browne's team is made up of 30 traders and salesmen who seldom make risky bets.

His opinion is valued by clients who are considering launching new ETFs. One example is profile] asking the team to seed a bank loan fund.

Browne's team had to withdraw their bids on dozens of ETFs during the software glitch that made Knight lose $440 million.

But this man, who Forbes calls the 'Godfather of ETFs', knows how to deal with criticism: Shrug it off. He remains patient and continues nurturing second-string ETFs, awaiting for each trade to flourish.

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