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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: Gary Korn who wrote (3890)9/11/1999 8:32:00 PM
From: gbh  Read Replies (1) of 10027
 
Gary, good post. But you must realize NITE doesn't net $62.50 for every 1000 shares handled. In fact, they probably net, on average, just a few bucks, maybe less. This is true even for market orders. Remember, there is not always a retail buyer for those shares they shares they just bought from you at market.

And if the markets turn bearish, I wonder how well their "proprietary" trading and risk management skills will hold up? Remember, this company has never seen a bear market of more than a couple months. What's that old saying, "Don't mistake brains for a bull market". :)

But getting back to the OLB and ECN discussion, there is just too much money flowing to the ECNs from the OLBs for this to be taken lightly. Perhaps it is just a bet hedging strategy, but I would think they (OLBs) have some other ideas on how these investment will net them real dollars some time in the not too distant future.

gary
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