Date:    4/22/98 4:12 PM
     
Jonathan G. Katz
Secretary
Securities and Exchange Commission
Washington, D.C.  20549
     
Re:  File No. S7-3-98
     
Dear Mr. Katz:
     
Knight Securities, L.P. ("Knight Securities" or the "Firm") requests that 
the Securities and Exchange Commission ("SEC" or the "Commission") extend 
the public comment period 30 calendar days for the proposed amendments to 
Rule 15c2-11, 17 CFR  240.15c2-11 (File No. S7-3-98).  In lieu thereof, 
Knight Securities requests assurances from the Commission that the staff of 
the Division of Market Regulation will consider the Firm's comments 
received on or before May 27, 1998, as if those comments were received 
during the comment period.
     
The Firm presently executes in the range of 20-25% of the volume occurring 
in both the NASD's OTC Bulletin Board and the NQB's Pink Sheets, and thus 
the Firm believes that its comments should be of particular value to the 
Commission.  An additional 30 calendar days should be sufficient to address 
all of the Commission's comments as well as the Firm's concerns.
     
Respectfully submitted,
     
Michael T. Dorsey
SVP & General Counsel
Knight Securities, L.P.