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To: John Chapman who wrote (5333)10/28/1999 2:31:00 PM
From: Gary Korn  Read Replies (5) | Respond to of 10027
 
Also, I did not catch exactly what was said, but something to do with institutions went from 13% in Q3 1998 to 28% in Q3 of 1999.

John,

What KP said was that revenue from institutions, as a percent of total revenue, increased from 13% to 28% from Q398 to Q399. This happened even though institutional trades accounted for only about 7 to 10% of volume. The trades are more profitable.

Gary Korn


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