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

To: gpman who wrote (269)	3/19/1999 6:53:00 AM
From: Jean B. Roper	Respond to of 10027

NITE News!!!! @ 5:19pm From Bloomberg. Knight/Trimark to Extend Trading Hours Within 3-6 Months Knight/Trimark to Extend Trading Hours Within 3-6 Months Jersey City, New Jersey, March 18 (Bloomberg) -- Knight/Trimark Group Inc., the biggest Nasdaq market maker, said it will be ready to extend its trading day by at least an hour within three to six months. Jersey City, New Jersey-based Knight said the project would cost less than $1 million and depends on clarification by regulators of rules governing who can trade after hours. ''We're developing an after-hours strategy to move toward the world'' of global around-the-clock trading, said Kenneth Pasternak, president and chief executive of Knight/Trimark. ''We want to provide access and add value but that may not mean having a full crew at 2 a.m.'' New York Stock Exchange chairman Richard Grasso said last month that the exchange may move to expand trading hours next year, particularly in foreign stocks traded in the U.S. The move is also aimed at serving individual investors who trade online. Datek Online Holdings Corp., the fourth-largest online broker, has said it expects to extend trading hours, perhaps as soon as this summer, the first such retail broker to announce such plans. Knight/Trimark serves almost 2,000 institutional investors, trading firms and hedge funds. It has no retail clients, though almost 60 percent of its volume comes from online brokers who deal directly with small investors. Knight is most likely start its trading day an hour early rather than extend the hours in the evening. ''You need a certain amount of liquidity even if you do have a million maniacs trading at home,'' said Pasternak. Only limit orders are expected to be accepted during the expanded hours since Knight does not expect enough activity in the early morning to support full market trading. Knight will develop its extended trading hours plan with Brut LLC, an electronic stock-trading network in which it owns a 14 percent stake. Eclipse Trading and Wit Capital Group Inc. are also planning to offer after-hours trading for individuals this summer.

To: gpman who wrote (269)	3/20/1999 1:00:00 AM
From: Joseph F. Hubel	Read Replies (1) \| Respond to of 10027

Well I would not hammer without reason. I can tell you that just this morning I tried to sell a stock (FNTT) and after clicking "submit" the screen never changed. I waited 2-3 minutes before I phoned in. When I finally got someone to check they saw that my order by then had registered on their server but it never sent back an acknowledgment so I had no way of knowing when or if the order had gone in. By then 5 minutes had passed and the stock had lost 5/8 of a point. On a 1,000 shares that's $625! I was so frustrated that I closed the screen, logging off. 10-15 minutes later when I cooled down I tried to log back on again only stare at the log-on screen for several more minutes before it finally logged me in. I don't know about the rest of you but I don't call that good service. I've also heard about Etrade and I would not consider them either. I trade 30-40 times a month and perhaps just the volume exposes me to the problems. I just know I require better than they gave. Yes, I had JB Online and I remember the busy signals when trying to dial in back then. I will say, today JB always ans. the phone on the 1st or 2nd ring, but then there is often a wait for the person assigned to your account. I have never owned JBOH stock and never will. Off the soapbox, JFH