Reuters: Regulatory News: Knight Capital considers bankruptcy, asset sale-Fox Business

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Knight Capital considers bankruptcy, asset sale-Fox Business Aug 2nd 2012, 21:17 Thu Aug 2, 2012 5:17pm EDT Aug 2 (Reuters) - Knight Capital Group's Chief Executive Tom Joyce is considering bankruptcy reorganization and a sale of assets, according to reports by Fox Business Network. A trading glitch with Knight's software roiled markets and wiped out $440 million of the firm's capital, forcing it to seek new funding as its shares plunged more than 80 percent in two days. A number of brokerages and broker-dealers have suspended routing trading orders through Knight. Among them: TD Ameritrade , Scott Trade, Fidelity Investments, Vanguard Group, E*Trade and Pershing LLC, a division of BNY Mellon .

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