|AUGUST 3, 1999|
|Knight/Trimark Group Hosts Best Execution Forum|
JERSEY CITY, N.J., Aug. 3 /PRNewswire/ -- Knight/Trimark Group, Inc. (Nasdaq: NITE) hosted a Best Execution Forum in Chicago last Thursday, July 29, for securities industry regulators, academics and practitioners. Conference attendees discussed numerous aspects of Best Execution, including its parameters, industry perspectives, academic opinions, standard measurement methodologies, and "regular and rigorous" reviews of compliance.
The day-long conference attracted over 120 attendees from firms such as Ameritrade, Inc.; Charles Schwab; E*Trade Group, Inc.; Fidelity Investments; PaineWebber, Inc.; Pershing, a division of Donaldson, Lufkin & Jenrette; and Waterhouse Securities, Inc. Panelists at the meeting included Dean Furbush, Chief Economist and Senior Vice President, National Association of Securities Dealers (NASD); Thomas Gira, Vice President, Market Regulation, National Association of Securities Dealers Regulation (NASDR); Robert Jennings, Ph.D., Indiana University School of Business; Lee Pickard, Senior Partner, Pickard & Djinis LLP; John Pinto, Executive Vice President, Dover International LLC; and Alan Shapiro, Founder, Transaction Audit Group.
"As the leading market maker of U.S. securities, Knight/Trimark recognizes the importance of Best Execution, particularly in light of the increase in trading volume and volatility caused by on-line investing and other technological advances," said Anthony M. Sanfilippo, President of Trimark Securities. "We want to lead the dialogue on ways in which firms can adhere to the standards of Best Execution and offer their customers the best prices on securities in an immediate fashion. Last Thursday's meeting is a starting point for clarifying Best Execution and helping to ensure that all retail and institutional investors profit from its many benefits."
Knight/Trimark, headquartered in Jersey City, New Jersey, is the parent company of Knight Securities and Trimark Securities. Knight Securities makes markets in over 7,100 equity securities listed on Nasdaq and 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 -- the Third Market. The four-year-old company, the number one execution destination for trades originated over the Internet, is the unseen "processing power" behind the explosive growth in on-line securities trading. It employs more than 550 people worldwide with offices in Jersey City, N.J.; Jericho and Purchase, N.Y.; Chicago, Ill.; Boston, Mass.; and London, England.
SOURCE Knight/Trimark Group, Inc.