Knight/Trimark Group, Inc. Message Board

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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: Testy_Coles who wrote (3248)	8/8/1999 3:51:00 PM
From: Gary Korn	Read Replies (1) of 10027

With respect to ECN encroachment, Merrill's analyst believes that it will ultimately be limited: Despite strong growth in ECNs, NITE has continued to improve market share of Nasdaq volumes; also, we believe ECN volumes are concentrated in large cap stocks, which represent only 10% of NITE's order flow. . . . We believe ECN growth has resulted from business that the firm [NITE] was not actively competing for. . . . Future growth of ECNs will affect only a small portion of the firms business. ECN-anguish may therefore, in Merrill's view, be "overblown" (using Merrill's words). Gary Korn

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