|MARCH 1, 2000|
|Knight Financial Products Begins Trading Today on Philadelphia Stock Exchange After Acquiring Specialist Post from G-bar Limited Partnership|
JERSEY CITY, N.J., March 1 /PRNewswire/ -- Knight/Trimark Group, Inc. (Nasdaq: NITE), the largest wholesale market maker in U.S. equity securities, announced that Knight Financial Products (formerly Arbitrade, LLC) begins trading today on the Philadelphia Stock Exchange after acquiring a specialist post on the exchange from G-bar Limited Partnership. Knight Financial Products now has specialist posts on the American Stock Exchange (AMEX), Chicago Board Options Exchange (CBOE) and Philadelphia Stock Exchange (PHLX).
"The fact that we are now trading on the Philadelphia Stock Exchange, one of the primary options markets in the U.S., confirms Knight's commitment to grow aggressively our presence in the options industry," said Kenneth D. Pasternak, the president and chief executive officer of Knight/Trimark Group. "We will establish a competitive advantage in the U.S. options marketplace by having a presence that will allow us to capitalize on the imminent multiple listing of options in this country and thereby provide superior execution on our customers' options transactions."
Knight/Trimark, headquartered in Jersey City, NJ, is the parent company of Knight Securities, Trimark Securities and Knight Financial Products (formerly Arbitrade, LLC). Knight/Trimark's subsidiaries make markets in equity securities listed on Nasdaq, the OTCBB of the National Association of Securities Dealers (NASD), the New York Stock Exchange (NYSE) and American Stock Exchange (AMEX); and in options on individual equities, equity indices, fixed income instruments and certain commodities in the U.S. and Europe. The firm also maintains an asset management business for institutional investors and high net worth individuals through Knight Financial Products' Deephaven subsidiary. As the number one destination for online trade executions, Knight/Trimark is the processing power behind the explosive growth in securities trading via the Internet. The firm was recently selected to Fortune's "e-50 Stock Index," an elite collection of companies that are shaping the new Internet-based economy. Currently, the four-year-old company employs more than 850 people worldwide with offices in Jersey City, NJ; Jericho, White Plains, Purchase and New York, NY; Chicago, IL; Boston, MA; Minnetonka, MN; Santa Clara, CA and London, England. SOURCE Knight/Trimark Group, Inc.
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