Birth and Death of the CLOB
Traders Magazine, February 1998
The creation of a file for the consolidatation of investor orders, or a CLOB, was proposed as far back as 1976 by the Securities and Exchange Commission. But Professor Junius W. Peake believes the CLOB was overwhelmed by dealer objections, causing the SEC to "wimp out." The CLOB finally reemerged as an NASD proposal last December. Peake provided the following chronology of SEC plans as outlined in commission releases.
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