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

To: Susan Saline who wrote (4734)	10/8/1999 9:46:00 AM
From: Gary Korn	Respond to of 10027

we will always have the spread ... but will we always have commissions? That's why I have am shying away from trading the brokers .... their competition is wicked Susan, Agreed. I had thought of shorting the OLBs (or an OLB) at the same time that I went long NITE. Didn't do that, but it might have been a good idea in retrospect. It is interesting that NITE's payment for order flow is what helps lower OLB commissions now (on market orders). That's why market orders are about $5 cheaper than limit orders. NITE will have its own margin pressures with decimilization, and meeting ECN competition, but the benefit of this is that NITE will pick up more market share as the regional market makets drop out (as the marginal players can't make enough money on the lowered spread). Gary Korn