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Knight launches Knight Advisor Services, appoints ex Morgan Stanley team
July 1, 2010-- Knight Capital Group, Inc. (NYSE Euronext: KCG) has announced that it has established Knight Advisor Services to provide fixed income sales, trading and research to the investment advisor community.
A team of f
ive experienced traders and relationship managers joined Knight from Morgan Stanley to form Knight Advisor Services. Joshua B. Zucker, Managing Director, leads credit sales and trading for the group.
Bohn C. Vergari is a Director in Registered Investment Advisor (RIA) sales. Joseph T. Miller, Vice President, is responsible for credit sales, and Patrick J. Moore is Vice President, broker-dealer sales. John W. Browning, Assistant Vice President, leads business development.
"Investment advisors have been left to develop their own networks of trading partners and research providers. Knight Advisor Services addresses the coverage gap by serving sophisticated investment advisors who seek competitive pricing, deep inventory and service, but who are less active or execute in smaller trade sizes than the average portfolio manager," said Gary Katcher, Executive Vice President, Head of Global Institutional Fixed Income at Knight Capital Group. "We see an opportunity to better serve this client base by combining the expertise of our new team with Knight's electronic and voice access and trading, deep resources, and broad universe of products."
"Knight Advisor Services helps our clients meet the growing demand for fixed income expertise as the U.S. population ages and more investors shift from wealth generation to preservation," Mr. Zucker said. "At the same time, the credit crisis reinforced the need for our clients to differentiate the portfolios they build with fixed income allocations. More advisors are seeking to increase transparency and reduce costs by managing fixed income themselves as opposed to outsourcing to funds. We have the flexibility to meet the needs of advisors who seek greater control over their fixed income portfolios."
Source: Knight
CME Group Announces Gold Futures Open Interest Record
July 1, 2010--CME Group, the world’s leading and most diverse derivatives marketplace, set a daily open interest record in its gold futures contract yesterday.
Open interest reached 605,792 contracts, surpassing the previous record of 603,688 contracts on June 25.
As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate.
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Source: CME Group
