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Wednesday, January 16, 2013

Trading venue Equiduct weighs options, may close -sources, (NYSE: KCG)

Pan-European trading platform Equiduct is exploring options, including possibly closing shop, four sources familiar with the situation said, as Citadel LLC and Knight Capital Group, two of its top investors, back away from efforts to build a challenger to Europe's more established bourses. Equiduct had been looking for fresh investors for several months but came up empty in its search, one of the sources said.Equiduct's board, which includes representatives from Citadel and Knight, met on Tuesday to discuss the matter, but ended up putting off a decision, two of the sources said.The board plans to meet again in early February, and in the meantime will continue to look for alternatives, including finding new investors, the people said. But another person with direct knowledge of the talks said it was likely the platform would be closed.A spokesman for Equiduct declined to comment.

Knight Capital Group, Inc. is a United States-based company that provides financial services. Shares of KCG fell by 0.14% or $-0.005/share to $3.68. In the past year, the shares have traded as low as $2.24 and as high as $13.59. On average, 4350670 shares of KCG exchange hands on a given day and today's volume is recorded at 1178837.