Bloomberg News

Knight Investors Need `Post-Mortem,' Royce's Kaplan Says

August 07, 2012

Knight Capital Group Inc. (KCG:US) investors need to get a better idea of events leading to the trading loss that drove the market maker to the brink of bankruptcy, said a portfolio manager at Royce & Associates LLC, Knight’s second- biggest shareholder.

“The first thing we need to see is a good post-mortem,” Jay Kaplan said today in an interview on Bloomberg Television’s “Market Makers” with Erik Schatzker and Stephanie Ruhle. “We do need to learn about risk controls,” Kaplan said.

Royce is a unit of Baltimore-based Legg Mason Inc.

To contact the reporter on this story: Charles Stein in Boston at cstein4@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net


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Companies Mentioned

  • KCG
    (KCG Holdings Inc)
    • $11.36 USD
    • -0.05
    • -0.44%
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