Bloomberg reports that Joyce, Knight’s CEO, said in an e-mail to staff that included talking points for clients that he expects business as usual with no need for additional cash and that the company is operating at full capacity, according to the person, who requested anonymity because the communication was private.
The Wall Street Journal reported earlier that Getco LLC and Virtu Financial LLC may bid for Knight’s market-making unit. It cited unidentified people familiar with the matter.
'Getco and Virtu would definitely be interested in the market-making business and the retail order flow', Richard Repetto, a New York-based analyst at Sandler O’Neill & Partners LP, said in a phone interview. 'If they sold the market-making business, it would make sense to sell simultaneously the other assets to them or somebody else. They don’t have a company once they sell that business. It’s the mainstay'.
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