Knight Capital considers bankruptcy, asset sale: Fox Business
(Reuters) - Knight Capital Group's Chief Executive Tom Joyce is considering bankruptcy reorganization and a sale of assets, according to reports by Fox Business Network.
A trading glitch with Knight's software roiled markets and wiped out $440 million of the firm's capital, forcing it to seek new funding as its shares plunged more than 80 percent in two days.
A number of brokerages and broker-dealers have suspended routing trading orders through Knight. Among them: TD Ameritrade, Scott Trade, Fidelity Investments, Vanguard Group, E*Trade and Pershing LLC, a division of BNY Mellon.
(Editing by Jennifer Merritt; Editing by Bernard Orr)