Knight Capital Merges Subsidiaries

Knight Capital Group is merging its broker-dealer subsidiaries.
By Maria Woehr ,

NEW YORK (

TheStreet

) --

Knight Capital Group

(KCG)

is merging its broker-dealer subsidiaries under three names, according to a company statement.

The broker dealers will be merged under the names Knight Capital Americas and Knight Execution & Clearing Services LLC.

Knight Capital Americas will consist of Knight Capital Markets LLC, Knight Libertas LLC and Knight Equity Markets. Knight Execution & Clearing Services LLC will consist of Knight BondPoint and Knight Direct LLC into Knight Clearing Services LLC.

"As we continue to grow and evolve, we're working to strengthen the Knight brand in the global marketplace," said Thomas M. Joyce, Chairman and Chief Executive Officer, Knight Capital Group in

a press release.

"Rationalizing the U.S. corporate structure is a move toward simplifying the organization and presentation of the client offering."

--Written by Maria Woehr in New York.

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