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May 05, 2005
Electronic trading: A Knight's Tale
Posted by Dominic Basulto
Following fast on the heels of deals announced by the New York Stock Exchange and NASDAQ to acquire electronic trading rivals: Jersey City-based Knight Trading Group will acquire Attain ECN from privately held Domestic Securities. Financial terms were not disclosed. According to the CEO of Knight Trading, the move to acquire an electronic communications network (ECN) was in response to the changing competitive environment on Wall Street: "The acquisition of an ECN marks the next step in the repositioning of our equity markets business to excel in the changing securities landscape."
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