Some one is in HUGE trouble!
Aug 3 (Reuters) - Fidelity Investments ' brokerage on Friday continued to avoid routing customer orders to Knight Capital Group Inc, one of its top market makers, amid questions surrounding the firm's long-term viability, according to people familiar with the situation.
Fidelity is directing customer orders to other market makers.
Fidelity 's National Financial Services LLC unit, which provides trade clearing and custody services to more than 300 broker-dealers across the United States, recently disclosed that during the second quarter Knight received nearly 13 percent of its non-directed orders for securities listed on the New York Stock Exchange.
Other venues receiving a significant percentage of those non-directed orders included the New York Stock Exchange, BATS Exchange Inc, Direct Edge Exchange and NYSE Arca, according to U.S. regulatory filings.
For non-directed orders, National Financial selects the execution venue on behalf of its customers.
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