NATIONAL DISCOUNT BROKERS GROUP INC
SC 13D/A, EX-1, 2000-10-12
SECURITY BROKERS, DEALERS & FLOTATION COMPANIES
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                                                                       Exhibit 1


                       Joint Filing Agreement and Consent

                  The undersigned agrees that the Amendment to Schedule 13D
executed by Deutsche Bank AG to which this statement is attached as an exhibit
is filed on behalf of Deutsche Bank AG, DB U.S. Financial Markets Holding
Corporation and Deutsche Acquisition Corp. pursuant to Rule 13d-1(k) under the
Securities Exchange Act of 1934.

Dated:  October 12, 2000



                                      DB U.S. FINANCIAL MARKETS HOLDING
                                      CORPORATION


                                      By: /s/ Michelle Schwabe
                                          -----------------------------------
                                      Name:  Michelle Schwabe
                                      Title:  Managing Director


                                      By: /s/ Richard Ferguson
                                          -----------------------------------
                                      Name:  Richard Ferguson
                                      Title:  Managing Director and Treasurer

                                      DEUTSCHE ACQUISITION CORP.


                                      By: /s/ Kevin E. Parker
                                          -----------------------------------
                                      Name:  Kevin E. Parker
                                      Title:  President


                                      By: /s/ Thomas A. Curtis
                                          -----------------------------------
                                      Name:  Thomas A. Curtis
                                      Title:  Vice President



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