According to Reuters a failed backup power generator has
forced Knight Capital Group to tell clients to route all stock orders away from
the brokerage on Wednesday, as the effects of Sandy, the massive storm that
slammed into the U.S. East Coast, were still being felt. It was the second time in three months the
Jersey City, New Jersey-based broker has had to ask clients to route orders
elsewhere.
Knight, a top U.S. market maker - a brokerage that buys and
sells stocks for clients and ensures orderly trading - said the generator
failed before midday, affecting its institutional equities sales and trading,
and market-making businesses….
Knight's clients have been told to send their NYSE-listed
and Nasdaq stocks, along with options trades, elsewhere
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