Knight talking to several parties on finance deal: source
Posted 2012/08/05 at 3:02 pm EDT
NEW YORK, Aug. 5, 2012 (Reuters) ? Knight Capital Group has been in talks with several parties over a financing deal that would help it avoid bankruptcy after a technical glitch led to $440 million in losses, a source with knowledge of the discussions said on Sunday.
A Knight Capital logo is seen on a trader's jacket on the floor of the New York Stock Exchange August 1, 2012. REUTERS/Brendan McDermid
An announcement on a deal, with parties that include Knight trading partners, is expected on Sunday or early Monday as Knight needs to assure its customers about the viability of the company before markets open, the source said.
Knight has also been in talks with restructuring lawyers as it seeks to keep its options open, the source said.
The equities trading firm lost most of its capital after a software glitch on Wednesday caused it to make thousands of unintended trades.
(Reporting by John McCrank and Carrick Mollencamp; Editing by Dale Hudson)
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