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

To: Herschel Rubin who wrote (5124)	10/15/1999 7:16:00 PM
From: Gary Korn	Read Replies (2) \| Respond to of 10027

I did some digging today and unearthed the following: 1. The NASD is supposed to reduce Selectnet costs from $1 to as low as .20/trade (depending upon volume). This was referenced by KP in the cc. The change hasn't happened yet, may happen on 11/1, but could slip to the end of the year. 2. The reduction from $1 to .20/trade is volume dependent. Based upon my calculations, it would kick in for NITE after NITE had processed about 1/5th of its monthly trades (i.e., the reduction would apply to about the remaining 4/5ths of its trades in a month). 3. Again based on my calculations, the reduction (if/when it goes in effect) would save NITE probably $200,000+ per month based upon current volumes, which is close to about 1 penny per share per quarter. Gary Korn