NEW YORK Aug 7 NYSE Euronext said on
Tuesday that Knight Capital Group would resume its
responsibilities as a designated market maker on the New York
Stock Exchange next Monday.
NYSE had temporarily reassigned Knight's designated market
maker responsibilities to market maker Getco on Monday while
Knight finalized a $400 million recapitalization plan after a
technical glitch last week caused a massive trading loss that
nearly sank the firm.
Getco, along with Jefferies Group Inc, Blackstone
Group LP, and financial services companies TD Ameritrade
Holding Corp, Stifel Nicolaus and Stephens Inc,
provided the emergency financing on Monday. The investor group
will now own 73 percent of Knight.
Market makers buy and sell shares for clients and provide
liquidity to equity markets by stepping in to buy and sell
stocks, using their own capital to ensure orderly activity.