Knight Match, a registered alternative trading system, is an anonymous source of non-displayed liquidity. Through Knight Match, clients have access to Knight''s liquidity that consists of institutional, retail and algorithmic order flow. Knight Match receives both passive and flow orders of liquidity.
Functionality and order Types
Knight Match offers price/ equal split matching logic, allowing all participants a chance to interact with Knight”s unique liquidity.
Access and participation
Access to Knight Match is via an electronic services agreement. Clients can execute against retail, algorithmic and highfrequency flow. Small and mid-cap flow orders originating from Knight”s retail broker-dealer clients provide increased fulfilment opportunities for Knight Match clients.
All securities are traded on Knight Match, with no over-the-counter bulletin board or pink sheets.
Knight has a technology team that monitors participants in the pool. Features such as minimum execution quantity serve to control information leakage and adverse trading behaviour
Knight Match has no liquiditysharing agreements with other pools.