This past weekend, the designated market maker, Knight Capital, secured crucial financing to keep the company afloat via a deal with Jefferies. Stephanie Ruhle of Bloomberg Television’s Market Makers, explained the deal and all that happened during the 48 hour window.
In the clip, Ruhle does a fantastic job describing exactly why Knight CEO Tom Joyce chose the Jefferies deal and not the deal proposed by Ken Griffin of Citadel.
Did you know that in 2011, Citadel hired two of Knight’s former executives to run the firms new quantitative trading unit?
Well, here’s the clip from Bloomberg.