Wednesday, Knight Capital Group Inc. (NITE), a provider of capital markets and trade execution services, reported strong growth in its trading activities during June 2008, despite mixed performance of the broad indices. Average daily dollar value traded as well as average daily US equity trade volume registered more than 60% growth during the month over the same period last year.
"June witnessed the steepest concurrent percentage declines in the three major indexes since September 2002 and produced mixed U.S. equity volumes," said Thomas Joyce, chairman and chief executive officer.
"Average dollar value traded continued to grow and average daily equity trades topped two million. However, continued weakness in Bulletin Boards and Pink Sheets resulted in fewer average daily shares traded for the month," he added.
During the 21 trading days in June 2008, The Jersey City, New Jersey-based company said that the average daily dollar value traded surged 65% to $18.2 billion from $11.0 billion recorded in last June. Sequentially, the increase was 1.9% from $17.9 billion in May.
Average daily U.S. equity trade volume sequentially rose 4.9% to 2.0 million from 1.9 million in May, and was up about 75.4% year-over-year from 1.1 million.
Average daily U.S. equity share volume rose 2.2% year-over-year to 3.73 billion in June from 3.65 billion, but decreased 9.8% sequentially from 4.1 billion in May.
NITE is trading down $13.55, down $3.01 or 18.18%.
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