|APRIL 14, 1999|
|Knight/Trimark Group's New London Subsidiary Will Commence Operations In May 1999|
|JERSEY CITY, N.J., April 14 /PRNewswire/ -- Knight/Trimark Group, Inc.
today reported that its new London-based subsidiary, Knight
Securities International Ltd., received regulatory approval from The
Securities and Futures Authority in the United Kingdom. Commencing operations
in May 1999, Knight Securities International will initially operate as an
institutional sales office, arranging transactions in U.S. equity securities
between European institutional customers and Knight Securities.
``We are extremely excited about our first venture into Europe,'' said Kenneth D. Pasternak, the Company's President and CEO. ``We built our success in the United States by providing best execution services that emphasize automated trade executions and enhanced liquidity based upon our willingness to commit capital. These same principles will be the foundation of our European business strategy. Initially, Knight Securities International will arrange U.S. equity transactions with European institutions. Within two years, we anticipate expanding our operations to include making markets in European equity securities.''
``Expanding our institutional business in the U.S. and abroad is a top priority this year,'' continued Mr. Pasternak. ``Our fastest growing revenue stream comes from institutional investors, customers who recognize the value of our insightful trading expertise and industry-leading market share. In the United States, we expect to double the number of institutional sales professionals in the next year. In Europe, Knight Securities International will focus on building relationships with the top-tier institutions in the United Kingdom and throughout Western Europe.''
Knight/Trimark Group is the leading market maker in both Nasdaq securities and the over-the-counter market for New York Stock Exchange (NYSE)- and American Stock Exchange (AMEX)-listed equity securities -- the Third Market. Knight/Trimark is the parent company of Knight Securities and Trimark Securities. Knight Securities trades in approximately 6,700 equity securities listed on Nasdaq and on the OTC Bulletin Board (OTCBB) of the National Association of Securities Dealers (NASD). Trimark Securities trades NYSE- and AMEX-listed equity securities over the counter. Knight/Trimark Group is ``Dedicated to Execution Solutions.''(TM)
Copies of this release and other information on the Company can be obtained via the Internet at www.knight-sec.com.
The matters described herein contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control which could cause actual results to differ materially from historical results, performance or other expectations and from any opinions or statements expressed with respect to future periods. These factors include, but are not limited to, the Company's ability to implement its growth strategies, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, intellectual property rights, and other factors detailed in the Company's registration statement and periodic reports filed with the Securities & Exchange Commission.