The Knight Capital Group suffered a power disruption at its headquarters in Jersey City on Wednesday and told clients to route their orders elsewhere, a spokeswoman for the trading firm confirmed.
Knight had been running on a backup generator since Hurricane Sandy bowled through the metropolitan area, and it was that system that failed, the spokeswoman said.
It is the first time that the trading firm has run into significant issues since it was rescued by a group of investors in August. The move came after Knight Capital sustained a $440 million trading loss stemming from a technology error that generated erroneous orders to buy shares of major stocks.
Shares in Knight fell 3.4 percent by Wednesday afternoon, to $2.53.
So far, the firm's predicament appears to be the only hiccup in the resumption of market trading on Wednesday in the aftermath of Hurricane Sandy.
