Knight Capital has accepted the Nasdaq's revised payback fund of $62 mil to cover brokers' losses related to Facebook's (FB) botched IPO. The trading firm had called Nasdaq's earlier $40 mil offer "inadequate" and was mulling legal action. UBS (UBS) said it lost more than $350 mil, and Citigroup (NYSE:C)up to $35 mil, and rejected Nasdaq's offer saying the exchange should be held accountable for all losses.
As traders wait on the Federal Reserve, putting off any major decisions until they hear the latest word in FOMC …