Tuesday, 26 July 2016
Last updated 33 min ago
May 27 2010 | 10:43am ET
Knight Capital Group is in talks to take a stake in a European multi-lateral trading facility majority owned by Citadel Investment Group.
Knight, which is the largest trader of U.S. shares, hopes the stake in Equiduct Systems will facilitate its further expansion in Europe, where it recently introduced smart order routing and algorithmic trading strategies services. The negotiations were first reported by Bloomberg News.
Citadel bought a majority stake in Equiduct from the alternative trading platform’s founder, Börse Berlin, in July. The Chicago hedge fund giant then named Peter Randall, who founded the competing Chi-X Europe platform, as its CEO.