Thursday, 21 August 2014
Last updated 5 hours ago
Jan 18 2007 | 12:17pm ET
Knight Capital Group’s new investment in hedge fund Deephaven Capital Management paid off fast. Deephaven’s pre-tax profit soared fourfold last year to $27.4 million from $6.6 million in 2005, Jersey City, N.J.-based Knight said. Some $9.5 million of that went into Knight’s coffers, accounting for about one-fifth of the brokerage’s income.
In December, Deephaven chief Colin Smith and his deputies signed lucrative new employment contracts with Knight, which bought the hedge fund three years ago, putting to rest rumors that Deephaven management wanted out.
Deephaven’s assets under management leaped to $4.2 billion at the end of 2006 from $2.9 billion in 2005.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note