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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Herschel Rubin who wrote (2733)	7/23/1999 7:13:00 AM
From: AugustWest	Respond to of 10027

(PR NEWSWIRE) BRUT Volume Up Over 30% Since Introduction of UMA Market Acc BRUT Volume Up Over 30% Since Introduction of UMA Market Access System Connectivity and Anonymity of Leading ECN's Universal Market Access System Proving Popular with Equity Traders NEW YORK, July 22 /PRNewswire/ -- Drawing rave reviews from its initial users, BRUT's (The BRASS Utility) revolutionary new equity market access system, UMA, has helped boost the leading ECN's volume by more than 30% since its introduction last month. Licensed from Automated Securities Clearance Ltd., Universal Market Access (UMA) system allows traders to access liquidity from a single easy to use display, reunifying the marketplace. "UMA has quickly become an integral part of a trader's desktop, providing direct access to the Nasdaq stock market via BRUT," said Brian Hyndman, President of BRUT. "It is a tool that allows a trader to view market activity take action in a number of stocks simultaneously and send orders on a real-time basis to broker/dealers. The system's sweep functionality and ability to unify what was a fragmenting equity market is the key to its success." UMA offers instant access to Nasdaq quotes and the BRUT book as well as join the inside market anonymously using BRUT. The system lets traders set up a list of stocks by sector, industry, activity level or alphabetically, providing for quick and efficient order execution on a group of stocks. UMA connectivity to broker/dealers allows buy-side firms to electronically send both listed and Nasdaq orders to brokers and receives execution reports back on a real-time basis. The BRASS Utility, L.L.C. (BRUT), headquartered in New York City, is a leading electronic communications network (ECN) and one of nine ECNs approved by the Securities and Exchange Commission to act as an order display alternative. BRUT is majority owned by Automated Securities Clearance Ltd. (ASC). ASC operates BRASS (Brokerage Real-Time Application Support System) which provides the Nasdaq trader everything he or she needs to operate electronically. BRASS is the industry standard, serving over 3000 desktop terminals in roughly 175 brokerage firms representing over 50% of Nasdaq volume. Goldman Sachs, Knight/Trimark Group (Nasdaq: NITE), Merrill Lynch (NYSE: MER) and Morgan Stanley Dean Witter (NYSE: MWD) maintain minority equity interests in the BRUT ECN. BRUT and ASC are operating units of SunGard Data Systems Inc., the only large specialized provider of proprietary investment support systems and the pioneer and a leading provider of comprehensive computer disaster recovery services. SunGard's common stock is reported on the New York Stock Exchange under the symbol SDS. SOURCE The BRASS Utility, L.L.C. -0- 07/22/99 /CONTACT: Rich Tauberman of The MWW Group Public Relations, 201-507-9500, or rtauberm@mww.com/ (SDS MER NITE MWD) CO: BRUT; BRASS Utility, L.L.C.; Automated Securities Clearance Ltd.; SunGard Data System, Inc.; Goldman Sachs, Knight/Trimark Group; Merrill Lynch; Morgan Stanley Dean Witter ST: New York IN: FIN SU: * end of story *