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We've got more on that -- Knight capital trading irregularities Charlie got rid of working the story -- news room.
Got reaction from Knight capital -- I mean this is a more -- but I guess they've elaborated a little more what went down this is the -- just came up from night.
An initial review by night indicates to that a technology issue occurred in the company's market making -- Unit related to the routing of shares of approximately a 150 stocks to the New York Stock Exchange.
I know why the new York stock exchanges about an -- and -- now we know number stocks 150.
Night notified its market making claims this morning to -- the listed orders away.
Meaning to other places.
The company's OTC.
Securities and trading in its other businesses are not affected.
The company continues to review internally -- little more of this study -- here guys that might take.
And Mena Charlie Brady RR one of ours are Smart guys here at Fox Business we put our heads together.
It looks like on the positive side if you -- the stock it looks like they got their hands around this the situation they know how many stocks are affected.
They stopped did their back -- -- and running that's the positive thing the negative thing is we don't know exactly what -- -- obviously now I'm gonna surmise here.
And you know Charlie again Charlie -- and I were talking about this what could cause is obviously a potential for hacking in -- you know that the -- -- -- systems got hacked into not.
Not an outrageous.
Thing to think of in this in this case at this point now in May just be an -- to.
We should point out but so that's what we're doing we're we're we're still investigating as I I what's -- -- about this is that they denied use the word ever.
Hey did you notice that in the statement they said -- technology issue DOJ might view does raise the potential that this was packed because it was an Aaron.
You see generic write what you know and -- when that Microsoft says okay when your compared to bugging you think it's not okay Mittal is only just could not come at a worse time for the market given regulation oversight and and those A regulators and IPO on that FaceBook this this could add pressure on Capitol -- you think.
SEC's is following the FaceBook IPO.
And you know and and clearly.
Who realizes -- it dropped the ball.
Wind you know after -- in terms of market structure following the -- fish -- first they have not been.
All over from the flip the frustrations of a big thing I -- -- took out a tremendous amount of market confidence.
Out of out of investors are bit on the sidelines since it not only because that for other reasons and it really to deal with the idea of DC do you -- the commission is doing all the things you know -- a insider trading and you know.
Haven't confidence that you police in order in you get your trade is something that every investor needs and then he had.
FaceBook group which it would -- the mishaps at -- at the NASDAQ and really right now what people are saying if you took the market makers.
There's a there's an issue here would market structure and this -- -- -- -- I will point out this is kind of another issues.
It would be hard now as we reported last week Knight securities lost a lot of money in the FaceBook IPO -- NASDAQ.
And was ready to respond to was about was was respond this week to nasdaq's proposed -- 62 million dollars as we were reporting -- we were the first report.
They were leaning towards accepting whatever -- NASDAQ put on the table.
And you know I think this kind of underscores why I mean it would be would be pretty impossible for an for Knight securities to -- NASDAQ over -- FaceBook screw up.
Went -- they had their -- that they have -- own.
As they would put it issue I would point out that the management -- night it's pretty good Tom Joyce is a good -- so we'll see wooly bully or morals are what happens slate thanks Charlie.
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