Knight is a Market Maker Once Again
![larry-leibowitz-nyse larry-leibowitz-nyse](/sites/default/files/styles/landscape_750_463/public/import/IMG/115/230115/larry-leibowitz-nyse-580x358.jpg.webp?itok=U_ruIGV4)
Following the life-saving $400 million cash infusion it received on Monday, Knight Capital got a face-saving bit of news today. The New York Stock Exchange (NYSE) will return designated market maker (DMM) status to the beleaguered Jersey City firm on Monday, August 3.
NYSE on Monday removed Knight's status as DMM for 524 NYSE securities and 156 NYSE MKT listed securities, saying it was in the public interest until Knight's recapitalization plan was approved and completed. Its DMM responsibilities were given to Getco in the interim.
Since then, the deal for a consortium of firms, including Getco, to hand Knight $400 million in exchange for a 73 percent ownership stake was confirmed. NYSE was sufficiently convinced of Knight's stability to return its privileges.
"Knight and Getco have demonstrated outstanding commitment and leadership in serving the best interests of investors, our listed issuers and market stability," says NYSE Euronext COO Larry Leibowitz. "We applaud the teamwork and collaboration by all parties involved to ensure smooth, efficient and seamless transitions."
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