Citigroup Knight move expands options business

16 Aug 2004

Citigroup last week made a deeper push into the options trading space by announing the purchase of Knight Trading Group.

Citgroup purchased Knight's derivative markets business for approximately $225m in cash - a move that provides Citigroup with order routing and market making services and technology. The deal, which is expected to close in the fourth quarter, effectively ends Knight's options brokerage business.

Knight, considered a...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

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