NITE Nightstar Therapeutics Plc ADS

JERSEY CITY, N.J., May 6 /PRNewswire-FirstCall/ -- Knight Capital Group, Inc. (NASDAQ:NITE) today announced the appointments of Andrew P. Scott as Managing Director to oversee the operations of NetDelta, a credit default swap platform that reduces counterparty risk, and Michael S. Shapiro, Director, who is responsible for leading NetDelta's sales effort. Mr. Scott is an eight-year veteran of Merrill Lynch where he was the lead attorney for credit derivative products and a senior representative for key industry and regulatory initiatives. Prior to joining Knight, Mr. Shapiro was responsible for sales, business strategy and product development for TradeWeb LLC's credit derivatives trading platform, including leading a global effort to increase post-trade business for CDS and IRS. "Knight is very pleased to have Andrew and Michael on board at NetDelta," said Steven Sadoff, Executive Vice President and Chief Information Officer at Knight Capital Group. "Both are professionals who have been involved in building out the infrastructure of the CDS market. Their talent and experience are an important addition to the NetDelta team as we develop the business." NetDelta allows institutions that trade credit derivative products to minimize and diversify their counterparty exposure while maintaining their bilateral trading relationships. An alternative to central clearing, NetDelta addresses the root cause of systemic risk through the introduction of standard contracts and the use of pooled credit. Counterparty risk is minimized by multi-laterally netting transactions and using participants' credit lines to reallocate exposures so that their market exposure remains neutral. "NetDelta is in prime position to help participants minimize counterparty risk in the CDS market," Mr. Sadoff added. "Credit derivative volumes have grown exponentially over the past few years, and with such growth comes operational challenges. NetDelta can help its platform participants address concerns regarding risk management, trade settlement and balance sheet usage. Indeed, counterparty risk management has become increasingly important, and both the industry and regulators are actively looking for ways to reduce systemic risk in the market. We believe NetDelta has a solution that addresses risk concerns without hindering the ability of market participants to invest and trade CDS." Biographies Andrew P. Scott Managing Director NetDelta LLC Andrew P. Scott, Managing Director, oversees all operations of NetDelta, Knight's CDS platform for reducing counterparty risk. Mr. Scott joined NetDelta in January 2009 after eight years with Merrill Lynch, most recently as a Director and Senior Counsel in the firm's Office of General Counsel. At Merrill Lynch, Andrew was the lead attorney for credit derivative products and a senior representative for key industry and regulatory initiatives. He has been actively involved in various industry groups and was a key participant in the initial design and subsequent development of the ISDA CDS auction methodology and protocols. Andrew also represented Merrill Lynch on the CDX credit derivatives index board. Previously, Andrew was an associate in fixed income derivatives at Morgan Stanley in both New York and Tokyo where he worked in interest rate and currency swaps, credit derivatives and CDOs. He also worked in various law firms in the U.S., Japan and Canada. Andrew received a juris doctor and master of business administration from the University of Toronto, and a bachelor of arts from the University of Western Ontario. He is a member of the New York State Bar. Michael S. Shapiro Director NetDelta LLC Michael S. Shapiro, Director, is responsible for leading sales of NetDelta, Knight's CDS platform for reducing counterparty risk. Mr. Shapiro was the Director of Derivative STP Sales at Tradeweb LLC from July 2007 until joining Knight in April 2009. He led the firm's global effort to increase Tradeweb's post-trade business for CDS and IRS and was responsible for sales, business strategy and product development for the credit derivatives trading platform. In this role, Michael provided internal support for all CDS-related issues and externally worked with trading desks at major sell-side dealers as well as with traders, portfolio managers and operations groups at hedge funds and asset managers. Prior to joining Tradeweb, Michael was responsible for sales of the credit derivative trade affirmation platform of T-Zero LLC, a subsidiary of Creditex Group Inc., now part of the IntercontinentalExchange, Inc. He joined T-Zero from Bloomberg L.P. where he was a senior representative responsible for sales of the Bloomberg Professional Service to hedge funds, broker-dealers and investment advisors. Michael received a bachelor of business administration from the University of Wisconsin-Madison. About Knight Knight Capital Group, Inc. (NASDAQ:NITE) is a leading financial services firm that provides electronic and voice access to the global 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 global equities and fixed income, foreign exchange, futures and options. Our approach to trading combines deep liquidity with robust trading technology and capital facilitation, when necessary, to deliver high quality trade executions consistent with client defined measures. Our Corporate segment invests in strategic, financial services-oriented opportunities, allocates, deploys and monitors all capital and maintains all corporate overhead expenses. Our Asset Management segment is reported as a discontinued operation as of March 31, 2009. 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 (i) the costs, integration, performance and operation of businesses recently acquired, or that may be acquired in the future, by the Company, and (ii) the closing of the sale of the assets of the Asset Management business and costs and expenses associated with the Company's exit from the Asset Management business. 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, 2008, 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, 2008, 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: Kara Fitzsimmons, Director, Media Relations, +1-201-356-1523, , or Ludwig Marek, Vice President, Marketing Communications, +1-201-356-1506, , or Margaret Wyrwas, Senior Managing Director, Communications, Marketing & Investor Relations, +1-201-557-6954, , all of Knight Capital Group, Inc. Web Site: http://www.knight.com/

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