Subject: File Nos. SR-NASD-99-11 and 98-17
 
Date:    6/23/99 9:48 AM
     

     
     
Mr. Jonathan G. Katz
Secretary
Securities and Exchange Commission
Washington, D.C.  20549
     
Re:  Nasdaq's Proposed Central Limit Order Book
     
Dear Mr. Katz:
     
Knight Securities, Inc. ("Knight") submitted a letter, dated May 21, 1999, 
to the Securities and Exchange Commission("Commission") in opposition to 
Nasdaq's proposed Central Limit Order Book.  In addition, Knight 
distributed this letter to 553 of its broker-dealer correspondents to 
survey whether they concurred or did not concur with, or abstained from, 
the positions taken in Knight's letter.  The results of this survey to date 
are as follows: 154 (28%) firms responded.  Of those firms that responded, 
144 (94%) firms concur with Knight's positions, 2 ( 1%) firms do not 
concur, and 8 (5%) firms have abstained.  We will update the Commission on 
the results of our survey if the results change materially over the next 
several weeks.
     
Respectfully submitted,
     
Michael T. Dorsey
SVP & General Counsel
Knight Securities, Inc.