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To: cellhigh who wrote (35896)	1/21/1999 6:40:00 PM
From: Mandinga	Respond to of 164684

I am still in the office. I have reuters up now

To: cellhigh who wrote (35896)	1/21/1999 6:57:00 PM
From: Jerry A. Laska	Respond to of 164684

cellhigh, Globex: cme.com cme price listings: cme.com Jerry

To: cellhigh who wrote (35896)	1/21/1999 7:56:00 PM
From: Glenn D. Rudolph	Respond to of 164684

This may seem OT but I do not believe so: "DLJ Admits It Has Weighed Spinoff of Web-Trading Unit By a WALL STREET JOURNAL Staff Reporter NEW YORK -- Amid the hoopla surrounding Internet stocks, Wall Street securities firm Donaldson, Lufkin & Jenrette Inc. said it has considered a spinoff of its online-trading unit, DLJdirect. DLJ acknowledged it has thought about a spinoff in response to market rumors that such a move could happen soon. Those rumors helped drive up DLJ shares $6.4375, or 14%, to $52.25 in New York Stock Exchange composite trading. DLJ will report fourth-quarter earnings Thursday. "We've discussed the idea of taking a portion of DLJdirect public on a number of occasions," a DLJ spokeswoman said. DLJdirect, Jersey City, N.J., was called PC Financial Network before its parent company renamed it in 1997. DLJ wouldn't say whether spinoff discussions are happening at this time. DLJdirect, known as a more high-end Internet broker favored by clients with hefty account balances, controlled about 4% of the fast-growing Web-trading market as of Sept. 30, executing more than 10,100 trades a day, according to Credit Suisse First Boston Corp. DLJ hasn't previously disclosed specifics about the unit's financial condition, but it has said it is profitable. James Marks, an analyst with Deutsche Bank Securities who follows other online brokers, said a spinoff could make sense. But "for whatever strategic reasons in the past, they haven't wanted to do it," he said. What has changed, according to Mr. Marks, is the exploding valuations of many Internet companies, including Web-trading houses such as E*Trade Group Inc. and Ameritrade Holding Corp. At one point in December, the stock-market value of No. 1 online trading firm Charles Schwab Corp. surpassed that of Merrill Lynch & Co."