ITG Q4 Revenue Rises 31 Percent; Knight’s Sinks 35 Percent
TRANSACTION SYSTEMS
NEW YORK and JERSEY CITY, N.J.--Market maker Knight Trading Group reported a 35 percent decline in revenue in the fourth quarter of 2001 from the same quarter in 2000. Meanwhile, agency broker Investment Technology Group (ITG) reported a rise in revenue of 31 percent over the fourth quarter, to $100 million.
The bear market and trading stop after Sept. 11 adversely affected both firms, but Knight took the hit much harder owing to a boom-era headcount and reduced demand for options market-making
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