NITE Nightstar Therapeutics Plc ADS

Knight Portfolio Access to provide products and services to firms offering separately managed accounts; Clearbrook's John P. Galvin to oversee day-to-day operations JERSEY CITY, N.J., April 14 /PRNewswire-FirstCall/ -- Knight Capital Group, Inc. (NASDAQ:NITE) today announced the formation of a joint venture with Clearbrook Financial, LLC, an independent financial services firm that provides portfolio solutions to investment professionals serving high net worth individuals. The joint venture, Knight Portfolio Access, LLC, will provide a range of products and services to retail brokerage firms and registered investment advisors offering separately managed accounts. Under the terms of the joint venture, Knight will control a 51 percent ownership interest in Knight Portfolio Access with Clearbrook controlling the remaining 49 percent. As of April 10, 2008, Knight Portfolio Access will be a consolidated subsidiary of Knight for financial reporting purposes. Knight Portfolio Access will be based in Princeton, NJ. "Fee-based, managed account programs represent one of the fastest-growing segments for sponsor firms including wirehouses, regional broker-dealers, independent planner firms, banks and RIAs," said James P. Smyth, Executive Vice President, Knight Capital Group. "Similar to Knight BondPoint, our electronic fixed income trading solution, Knight Portfolio Access represents a natural extension of the market access and trade execution services we currently provide to approximately 750 broker-dealer clients." Clearbrook's John P. Galvin, a veteran of the wealth and asset management industry, will oversee day-to-day operations of Knight Portfolio Access with responsibilities covering product development, sales, marketing and operational support. "Clearbrook has assembled a strong management team from major firms in the asset management industry who really understand the market for advisory services," said Mr. Galvin, President, Clearbrook Financial. "We're excited to partner with Knight and believe that Knight Portfolio Access will be able to help firms expand their product offerings and generate additional fee-based recurring revenues." Prior to joining Clearbrook in July 2007, Mr. Galvin was responsible for fee-based business at UBS Wealth Management. He also led Lincoln Financial's independent advisor channel and the reengineering of the firm's investment platforms. Galvin spent the majority of his career at Merrill Lynch where he was a driving force behind the firm's CONSULTS managed account program, a recognized industry leader. The Market for Separately Managed Accounts Separately managed accounts (SMAs) are fee-based accounts providing individual investors with access to objective investment advice, professional managers, portfolio customization, diversification and tax efficiency. SMAs are fast becoming the investment vehicle of choice for investors who want greater quality, choice and control than offered by traditional pooled investment vehicles. According to industry analysts, assets held in SMAs grew to $889 billion in 2007 and are projected to reach $2.8 trillion in 2012. Knight Portfolio Access is a registered investment advisor. Securities may be offered through Managed Account Services, LLC, an affiliate of Clearbrook Financial and a member of FINRA and SIPC. About Clearbrook Financial Clearbrook Financial is an independent financial services firm, providing unique investment products and portfolio solutions to investment professionals who serve high net worth individuals and institutions. The firm currently has $10 billion in assets under administration and advisement. For more information, visit http://www.clearbrookfinancial.com/. About Knight Capital Group Knight Capital Group, Inc. (NASDAQ:NITE) is a leading financial services firm that provides electronic and voice access to the capital markets across multiple asset classes for buy-side, sell-side and corporate clients, and asset management for institutions and private clients. Our Global Markets business provides market access and trade execution services in nearly every U.S. equity security and a large number of international securities, futures, options, foreign exchange and fixed income. We offer high-quality trade executions through natural liquidity, capital facilitation and trading technology, with comprehensive products and services that support alpha creation and capital formation. 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. More information about Knight can be found at http://www.knight.com/. Certain statements contained herein, and the documents incorporated by reference, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, 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 including, without limitation, risks associated with the costs, integration, performance and operation of businesses recently acquired, or that may be acquired in the future, by the Company. 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. Readers should carefully review the risks and uncertainties disclosed in the Company's reports with the U.S. Securities and Exchange Commission (SEC), including, without limitation, those detailed under the headings "Certain Factors Affecting Results of Operations" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year- ended December 31, 2007, and in other reports or documents the Company files with, or furnishes to, from time to time the SEC. This information should also be read in conjunction with the Company's Consolidated Financial Statements and the Notes thereto contained in the Company's Annual Report on Form 10-K for the year-ended December 31, 2007, and in other reports or documents the Company files with, or furnishes to, from time to time the SEC. DATASOURCE: Knight Capital Group, Inc. CONTACT: Margaret Wyrwas, Senior Managing Director, Communications, +1-201-557-6954, , Kara Fitzsimmons, Director, Marketing Media Relations, +1-201-356-1523, , Jonathan Mairs, Vice President, Corporate Communications & Investor Relations, +1-201-356-1529, , all of Knight Capital Group; Ray Gooley, Director of Marketing, Clearbrook Financial, LLC, +1-973-625-1130, ; Jennifer Connelly, JC Public Relations, Inc., +1-609-921-0083, Web site: http://www.knight.com/ http://www.clearbrookfinancial.com/

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