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

To: Lizzie Tudor who wrote (5187)	10/17/1999 11:32:00 PM
From: gbh	Respond to of 10027

consolidation in the OLBs, where mash business accelerates at the expense of nite. Imo this is the more likely scenario, but nite is so beaten it won't matter. Lizzie, this is certainly quite possible. But, for MASH business to expand at NITE's expense, SCH would need to buy another OLB which currently flows orders to NITE. Without that payment occurring, that OLB, be it AMTD or EGRP or whoever, would look even less attractive to SCH from a financial viewpoint. Of course, SCH would get the account growth. But what then? Does SCH let the OLB live independently? Doesn't make much sense since that OLBs financials would be undermined without those order payments. Or would SCH try to assimilate those new accounts under the SCH umbrella? Makes even less sense, since, who wants to pay $30 per trade, when I've been paying $20 or $15 or $8??? No I think SCH (and Fidelity) will continue to go after the retail brokerage client who is now paying way over $30 per trade. So far they have been pretty successful. But so have EGRP and AMTD. Gary