May 16, 2013 / 8:25 PM / 5 years ago

Knight near settlement with SEC on trading glitch probe -sources

NEW YORK, May 16 (Reuters) - Knight Capital Group is close to a settlement with the top U.S. securities regulator on a probe into the automated trading firm’s Aug. 1 software glitch that disrupted the equity markets and led to Knight’s sale, according to three sources.

Knight and the U.S. Securities and Exchange Commission have been negotiating a settlement for around a month, and are close to a deal, but the exact timing and the amount of the fine is still not clear at this point, two of the sources said. Another source pegged the settlement in the “low millions.”

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