Knight Capital Group has given support to NASDAQ OMX's proposal to compensate brokers affected by the exchange's mismanagement of the Facebook IPO. Knight had earlier criticised NASDAQ OMX's initial compensation offer.
In a letter sent to the SEC on Wednesday, Knight said ",,, we do support NASDAQ’s proposal to increase to the accommodation pool from $40 million to $62 million, as well as NASDAQ’s proposal to compensate its members for the losses it caused in cash, as opposed to the previously proposed “credits” against future transaction fees."
Comments on NASDAQ Rulemaking
Notice of Filing of Proposed Rule Change to Amend Rule 4626 - Limitation of Liability
(Release No. 34-67507; File No. SR-NASDAQ-2012-090)
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| Aug. 29, 2012 |
Leonard J. Amoruso, General Counsel, Knight Capital Group, Inc. |
| Aug. 23, 2012 |
James J. Angel, Ph.D., CFA, Associate Professor of Finance, Georgetown University, McDonough School of Business, Washington, D.C. |
| Aug. 22, 2012 |
Douglas G. Thompson, Jr., Michael G. McLellan, and Robert O. Wilson, Finkelstein Thompson LLP; Christopher Lovell, Victor E. Stewart, and Fred T. Isquith, Lovell Stewart Halebian Jacobson LLP; Jacob H. Zamansky and Edward H. Glenn, Jr., Zamansky & Associates LLC |
| Aug. 22, 2012 |
Andrew J. Entwistle, Esq. and Vincent R. Cappucci, Esq., Entwistle & Cappucci LLP |
| Aug. 22, 2012 |
Mark Shelton, General Counsel, UBS Americas |
| Aug. 22, 2012 |
Theodore R. Lazo, Managing Director and Associate General Counsel, SIFMA |
| Aug. 22, 2012 |
Daniel Keegan, Managing Director, Citigroup Global Markets Inc. |
| Aug. 22, 2012 |
Benjamin Bram, Watermill Institutional Trading LLC, New York, New York |
| Aug. 21, 2012 |
John C. Nagel, Managing Director and General Counsel, Citadel Securities |
| Aug. 21, 2012 |
Eugene P. Torpey, Chief Compliance Officer, Vandham Securities Corp. |
| Aug. 20, 2012 |
Sis DeMarco, Chief Compliance Officer, Triad Securities Corp. |
