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Non-Tech : Knight/Trimark Group, Inc.

KCG 20.00

0.0%

Aug 17 5:00 PM EST

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To: T-Lo Greens who wrote (1517)	6/8/1999 10:05:00 AM
From: Joseph F. Hubel	Read Replies (2) of 10027

Hope this one works out better for you. Check this out. Let me know what you think. This looks like it could develope into competition. JFH ********************************************* Goldman Sachs Group Inc. (GS), Merrill Lynch and Co. Inc. (MER) and brokerage Bernard L. Madoff Investment Securities are teaming up to create a new electronic trading system they hope will rival the New York Stock Exchange. The system known as Primex, would offer electronic access to investors interested in trading stocks listed on the New York Stock Exchange, the American Stock Exchange and NASDAQ. As reported in the Wall Street journal, a spokesmen for Primex said it would differ from other alternative systems, known as electronic communications networks, or ECNs, because Primex would be more than just a place for investors to meet to execute trades at prices they have specified. Rather it will allow investors to receive prices on their trades that are superior to the current best bid or offer made by specialists or market makers. Primex will be accessible to brokerage firms, institutional investors, market makers and exchange specialists. The cost of participation in the system has not yet been disclosed and operations are expected to commence one year from now.

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