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To: Susan Saline who wrote (4730)10/8/1999 9:17:00 AM
From: Gary Korn  Read Replies (1) | Respond to of 10027
 
how does NITE make their money?

NITE makes its money on the spread. It buys from someone at 100 1/16 and sells to another at 100 1/8.

NITE does make a small agency fee (commission) on large orders that it shops for institutions. This was referenced in the last financial release. The amount is negligible.

Gary Korn