8:36pm: The trade is official, the Knicks have announced. The 2017 and 2019 second-rounders going to New York are Houston’s own, according to the Rockets announcement.
3:15pm: New York is getting Alexey Shved and two second-round picks, but not Canaan, according to Wojnarowski. The second-rounders are for 2017 and 2019, writes Marc Berman of the New York Post.
2:06pm: The Knicks are trading Pablo Prigioni to the Rockets, according to Adrian Wojnarowski of Yahoo! Sports (Twitter link). Isaiah Canaan is headed to New York in the deal, as Ramona Shelburne of ESPNLosAngeles.com reports (on Twitter).