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Non-Tech : Knight/Trimark Group, Inc.
KCG 20.000.0%Aug 17 5:00 PM EST

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To: GS_Wall Street who wrote (2390)7/15/1999 12:58:00 AM
From: Joseph Silent  Read Replies (1) of 10027
 
Greg.......

Thanks.

I understand your explanation. I guess where I am stuck
is that my understanding of the MM function is to provide
liquidity. I find it hard to understand how an MM can "work
with a client". If these aspects cannot be kept separate,
I don't know how one can say there is no interference. An
MM can do whatever he/she wants to price, within some
limits, of course. You seem to be saying that MLCO the MM
can be working with ML's clients to handle transactions.
Imagine the consequences.

What am I misunderstanding?

Joseph
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