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

To: Sir Francis Drake who wrote (3401)	8/11/1999 12:18:00 PM
From: Retta	Read Replies (1) \| Respond to of 10027

Morgan, I'm thinking out loud, hoping you'll explain why my thinking is totally off. We, most of us, read an article recently which explained how the industry itself really doesn't know what the end result will be for overall trading. i.e. Nite's ownership in Brass?(ecn) Couple that with the recent post showing the magnitude of insiders selling, or certainly filing the intent. This then changes the float from what once was 54? 57mil? To what? Tripple that amount? Would that not have this much of an effect on the stocks price? Any of your brilliant insight is appreciated. Thanks, Retta

To: Sir Francis Drake who wrote (3401)	8/11/1999 12:45:00 PM
From: GS_Wall Street	Respond to of 10027

Little known facts about NITE Last Qtr avg number of share per trade was 994. This is an indicator that the majority of NITE volume is institutional. Thus slow down in OL trading will have minimal effect. From Trimark "Every order sent to Trimark via our trading system that is eligible for execution is immediately filled in its entirety (no partials), up to 5000 shares at the best consolidated inside quote or better. This commitment applies regardless of the size indicated by the best quote. Not only does the client's market order receive the best price available on any competing exchange, or by any other market maker, but also they receive that price for many more shares than bid or offered anywhere else. In effect, Trimark is supplying additional depth and liquidity to these markets. Trimark believes this potential for liquidity enhancement is a tremendous added value." NITE provide a "riskless" transaction. I use the work riskless losely, but NITE only fills the orders when the conditions are right to make a riskless profit. ECN only enhance the ability to make money for NITE. As long as NITE provides liquidity and price improvements over ECN's they will continue to be number one.

To: Sir Francis Drake who wrote (3401)	8/11/1999 1:18:00 PM
From: Johnny_Blaze_420	Respond to of 10027

Any thoughts on how the beige book and the numbers being released tomorrow may have an effect on market conditions. jb420