NEW YORK: Knight Trading Group, a US market maker, has paid $1.25 million for one million shares of Track Data. Knight now owns 1.5 percent of Track Data's outstanding shares and has a three-year option to buy an additional two million shares for $3.5 million, or $1.75 a share.
If exercised, the options would give Knight 4.5 percent of the company. The $1.25 price was a $0.25 per share premium over Track Data's $1 per share closing price on Dec. 1. Track Data used treasury stock to fill the
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails