Knight Trading Group, Inc. 1 Knight opposes the Proposal because the ARCA Exchange will not accomplish the primary goal of the national market system - the promotion of fair and orderly markets.
Knight objects to the Proposal for several reasons.
First, because the Proposal fails to set forth the types of fees the ARCA Exchange will assess against users. Ltd. Knight's subsidiaries make markets in equity securities listed on Nasdaq, the OTC Bulletin Board, the New York Stock Exchange, American Stock Exchange, Easdaq, the London Stock Exchange and in options on individual equities, equity indices, fixed income instruments and certain commodities in the United States and Europe. The firm also maintains an asset management business for institutional investors and high net worth individuals through its Deephaven subsidiary. As a leading destination for online trade executions, Knight is the processing power behind the explosive growth in securities trading via the Internet. Knight's clients include the leading brokerage firms, and more than 1200 broker-dealers and 1000 institutional clients.