Knight Capital Group Completes Acquisition of Hotspot FX Electronic Foreign Exchange Marketplace
April 03 2006 - 8:48AM
PR Newswire (US)
JERSEY CITY, N.J., April 3 /PRNewswire-FirstCall/ -- Knight Capital
Group, Inc. (NASDAQ:NITE) today announced the completion of its
acquisition of Hotspot FX, Inc., a privately held firm, in an
all-cash deal for $77.5 million effective April 1, 2006. Hotspot,
which provides institutions and dealers with spot foreign exchange
trade execution through an advanced, fully electronic platform, is
a separate subsidiary of Knight Capital Group. About Knight Knight
Capital Group, Inc. (NASDAQ:NITE) is a leading financial services
firm that provides comprehensive trade execution solutions and
asset management services. Our Asset Management business, Deephaven
Capital Management, is a global multi-strategy alternative
investment manager focused on delivering attractive risk-adjusted
returns with low correlation to the broader markets for
institutions and private clients. Our Global Markets business
provides a broad range of customized trade execution products and
services across multiple asset classes for broker-dealers,
institutions and issuer companies. We continually apply knowledge
and innovation to the trading and asset management processes to
build lasting client partnerships through consistent performance
and superior client service. More information about Knight can be
found at http://www.knight.com/ . Certain statements contained
herein constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations,
estimates and projections about the Company's industry,
management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
Since such statements involve risks and uncertainties, the actual
results and performance of the Company may turn out to be
materially different from the results expressed or implied by such
forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made herein; however, readers
should carefully review reports or documents the Company files from
time to time with the Securities and Exchange Commission including,
without limitation, the risks and uncertainties detailed under the
headings "Certain Factors Affecting Results of Operations" and
"Risks Affecting our Business" in the Company's Annual Report on
Form 10-K. DATASOURCE: Knight Capital Group, Inc. CONTACT: Margaret
Wyrwas, Senior Managing Director, Corporate Communications &
Investor Relations, +1-201-557-6954, or Web site:
http://www.knight.com/
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