Knight Introduces NetDelta(TM) Settlement Platform for the Credit Derivatives Market
14 Outubro 2008 - 8:30AM
PR Newswire (US)
NetDelta addresses inefficiencies and risks inherent to the OTC
derivatives market JERSEY CITY, N.J., Oct 14 /PRNewswire-FirstCall/
-- Knight Capital Group, Inc. (NASDAQ:NITE) today introduced
NetDelta(TM), an electronic settlement platform for the credit
derivatives market. NetDelta addresses market infrastructure
inefficiencies and underlying risks inherent in OTC derivatives by
providing buy- and sell-side firms with comprehensive, real-time
solutions for entering, maintaining and exiting new positions.
NetDelta will also be able to reduce counterparty risk for existing
positions in the near future. "NetDelta was designed to address
unnecessary counterparty risk, balance sheet inefficiencies,
settlement lags, valuation issues and a lack of liquidity," said
Lucio Biase, Managing Director, NetDelta, LLC. "NetDelta provides
the automation and infrastructure the $54.6 trillion credit
derivatives market needs." The NetDelta solution benefits traders,
prime brokerages, risk managers, controllers and settlement groups.
It is applicable to new trades and will soon be applicable to
existing positions in a firm's portfolio as well. The NetDelta
offering also addresses many of the key principles recently set
forth by the Operations Management Group (OMG) and President's
Working Group (PWG) - both of which aim to instill a clear,
functional and well-designed infrastructure that can meet the needs
of the OTC derivatives markets. "We are excited to bring NetDelta
to the OTC derivatives markets in these challenging times," said
Thomas M. Joyce, Chairman and Chief Executive Officer, Knight
Capital Group. "We believe NetDelta is an ideal solution for the
entire lifecycle of credit derivative trades. Importantly, the
NetDelta solution supports the credit derivative market makers who
are so vital to the health of the market." The platform's modular
technology allows for simple integration into existing trading
platforms, settlement services and reporting engines. In addressing
market infrastructure and legacy issues, the NetDelta solution
renders unwinds and novations obsolete for positions cleared on
NetDelta. NetDelta also allows for greater transparency of the
value of each position without disclosing pivotal market making
data. At present, NetDelta is internally beta testing the platform
and in the process of onboarding clients. NetDelta LLC is a
subsidiary of Knight Capital Group, Inc. For more information about
NetDelta, please go to http://www.knight.com/netdelta. About Knight
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. In Global Markets, we provide
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. In Asset
Management, Knight owns a 51 percent stake in Deephaven Holdings
with Deephaven Partners controlling the remaining 49 percent as of
February 1, 2008. Deephaven (http://www.deephavenfunds.com/) is a
global, multi-strategy alternative investment manager serving
institutions and private clients. More information about Knight can
be found at http://www.knight.com/. Certain statements contained
herein 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, the SEC from time to time.
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, the SEC from time to time.
DATASOURCE: Knight Capital Group, Inc. CONTACT: Margaret Wyrwas,
Senior Managing Director,,Communications, Marketing,
+1-201-557-6954, , Kara Fitzsimmons, Director, Media Relations,
+1-201-356-1529, , or Jonathan Mairs, Vice President Corporate
Communications & Investor Relations, +1-201-356-1523, , all of
Knight Capital Group, Inc. Web Site: http://www.deephavenfunds.com/
http://www.knight.com/
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