KNIGHT LAUNCES NETDELTA CREDIT DERIVATIVES SETTLEMENT PLATFORM

Posted October 14, 2008

JERSEY CITY, N.J. – Knight Capital Group Inc. has launched NetDelta, an electronic settlement platform for credit derivatives, intended to address market infrastructure inefficiencies and underlying risks with real-time solutions for entering, maintaining and exiting new positions, as well as reducing counterparty risk for existing positions.

“NetDelta was designed to address unnecessary counterparty risk, balance sheet inefficiencies, settlement lags, valuation issues and a lack of liquidity,” says Lucio Biase, Managing Director, NetDelta LLC. “NetDelta provides the automation and infrastructure the $54.6 trillion credit derivatives market needs.”

NetDelta’s modular technology allows for simple integration into existing trading platforms, settlement services and reporting engines. In addressing market infrastructure and legacy issues, the NetDelta solution renders unwinds and novations obsolete for positions cleared on NetDelta. NetDelta also allows for greater transparency of the value of each position without disclosing pivotal market making data. At present, NetDelta is internally beta testing the platform and in the process of onboarding clients.