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Next Nasdaq's Winners?

Traders Magazine, January 1998

Daniel G. Weaver

Dealers will certainly be the big winners if Nasdaq's proposed limit-order facility is approved. They would regain priority over customer limit orders and establish a cheaper alternative to Instinet or Bloomberg Tradebook.

Institutional limit-order traders, however, would have a disincentive to use the system, and retail limit-order traders would find that many of their orders would go unfilled unless the market moves against them.

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