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Home > Knight Capital held $7 bln of stocks due to glitch - WSJ

Knight Capital held $7 bln of stocks due to glitch - WSJ [1]

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Reuters
Thu Aug 9, 2012 4:07am IST

Aug 8 (Reuters) - Knight Capital Group Inc (KCG.N [2]) was holding about $7 billion of stocks at one point on Wednesday last week due to a software problem that led the brokerage to seek emergency funding, the Wall Street Journal reported, citing people familiar with the matter.

Knight tried to minimize its losses arising from a huge trading shortfall by paring the total position to about $4.6 billion by the end of the trading day, the Journal said.

To read the rest of this story, visit In.Reuters.com. [3]

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Source URL: //soundofheart.org/galacticfreepress/content/knight-capital-held-7-bln-stocks-due-glitch-wsj

Links
[1] //soundofheart.org/galacticfreepress/content/knight-capital-held-7-bln-stocks-due-glitch-wsj
[2] http://in.reuters.com/finance/stocks/overview?symbol=KCG.N
[3] http://in.reuters.com/article/2012/08/08/idINL2E8J906X20120808
[4] //soundofheart.org/galacticfreepress/type-post/galactic-free-press/freedom-project