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To: Tommy Hicks who wrote (2908)	6/8/1999 10:00:00 AM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 3795

Tommy, sounds like Niphix will be competing directly with the National Quotation Bureau, the folks who since 1913 have maintained the "pink sheets" (where OTC:BB companies go when they get delisted). The NQB will be going electronic this summer and will allow trading via their vast network of financial information distributors. Recall in the past that trading on the pink sheets was done "by appointment". IMO, going electronic/real-time will make this a de facto new exchange. See: nqb.com - Jeff