Knight Capital Group is back up and running Thursday, a day after a power outage knocked the company's systems offline.
As Wall Street returned to business Wednesday morning, following a two-day hurricane-related shutdown, Knight experienced a backup generator power failure at its headquarters in Jersey City, N.J. The issue affected all equities trading, as well as electronic foreign exchange and electronic fixed income trading.
The company, which plays a key role on Wall Street by acting as a middleman in the markets and completing investors' buy and sell orders, stopped accepting new orders just before noon Wednesday, and requested its clients re-route all stock orders to other trading firms.
Late Wednesday evening, Knight said it had "resolved the power outages" and that its systems were operating normally.
Knight Capital Group stopped taking new trading orders Wednesday afternoon as it struggled with "power issues" and requested its clients re-route all stock orders to other trading firms, according to two traders who received a memo from the firm.
Jersey City, N.J.,-based Knight plays a key role on Wall Street by acting as a middleman in the markets, completing investors' buy and sell orders.
The company's latest snafu comes as U.S. financial markets MOREHibah Yousuf - Oct 31, 2012 2:53 PM ET
|Sears may sell Kenmore and Craftsman brands|
|Google's plan to kill passwords|
|'Captain America' twist stuns comic book world|
|Peter Thiel: Financing lawsuits against Gawker is about 'deterrence'|
|How young millionaires are growing their money|