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

To: Gary Korn who wrote (5298)	10/27/1999 12:57:00 AM
From: John Chapman	Read Replies (1) \| Respond to of 10027

Gary: Notice the peak in the CBOE volatility index at about mid July coincided with the drop off in NITE revenues to more normal levels of 1998 from the first 2 Q's of 1999. Also notice that the index has turned upward as of mid August. This trend of the index and your volume data seem to compliment each other and correlate to NITE earnings. In the conference call they said NITE was volatility capture. The chart supports that. decisionpoint.com Another interesting thing to notice is how volatility has increased over the last few years. One could suppose that growth of online trading has something to do with that. The tendency is to trade more when going online. At least that is what I did. Building on these assumptions, one could say that more on line investing means more volatility and more volume which means more NITE profits.