JERSEY CITY, N.J., Jan. 18 /PRNewswire/ -- Knight/Trimark Group, Inc. (Nasdaq: NITE) today confirmed that it is in discussions on a letter of intent with The Nikko Securities Co., Ltd., one of the largest brokerage firms in Japan, to establish a joint venture operation that would provide wholesale market making services in Japanese securities.

The joint venture would combine Knight's technological prowess and customer-driven focus with Nikko Securities' understanding of the Japanese market. It would aim to satisfy the growing demand that has arisen with the liberalization of brokerage commission fees in Japan, especially among online brokerage firms and their clients, for best execution at low costs. The new joint venture also would seek to capture order flow from traditional Japanese brokerage firms that want to reduce the costs associated with their own internal market making operations.

The terms of the letter of intent and the proposed venture remain subject to agreement of the parties and regulatory and board approvals. Knight will disclose the result of these proceedings in keeping with its obligation to shareholders.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Knight/Trimark Group's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties.

SOURCE Knight/Trimark Group, Inc.

CONTACT: Marge Wyrwas, Vice President, Corporate Communications & Investor Relations of Knight/Trimark Group, Inc., 201-557-6954, or mwyrwas@knight-sec.com; Russell Dubner, or Chuck Dohrenwend of Edelman Public Relations, 212-704-4538, or 212-704-8102, both for Knight/Trimark Group, Inc./