ETF issuers aren’t the only ones stepping up their games in an effort to grab market share as this industry continues its breakneck expansion. Knight Capital Group, a leading financial services firm that provides electronic market access and trade execution for nearly U.S. equity, announced a major effort to expand its ETF capabilities yesterday, the latest indication that many in tangential fields are scrambling to get a piece of the ETF action.
Knight hired a team of three executives with extensive experience in the ETF industry to boost its expansion efforts. Reginald Brown, Eric Lichtenstein, and Darren Taube joined the ETF team, which now includes a total of 13 sales and trading staff in Jersey City and two in London. “Use of ETFs among institutional investors is increasing across strategies and new products are constantly entering into the marketplace,” said Greg Voetsch, Executive Vice President, Head of Institutional Client Group at Knight Capital Group. “We’re building on our existing ETF trading capabilities to enhance Knight’s liquidity and global multi-asset class offering.”