Knight CEO plays down deal talk
NEW YORK (Reuters) – Knight Capital Group , currently in talks with at least two firms on the possible sale of its largest business unit, is well capitalized and would only pursue a deal if it created value for its shareholders and clients, Knight’s chief executive said in an internal memo. The electronic trading firm has been approached by rivals Getco LLC and Virtu Financial LLC about its market-making operation, which uses computer models to match buy and sell orders in stocks and options, executing around 10 percent of U. S. volume, according to people familiar with the talks. . . .
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