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.
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