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Traders Eye Reduced Nasdaq Transaction Fees:The NASD's Section 31(a) Fight Is Praised by Market-M

Traders Magazine, June 1998

Jeffrey L. Winograd

The lukewarm regard many Nasdaq traders have for the National Association of Securities Dealers is almost legendary. But animosity notwithstanding, some traders this month singled the NASD out for special commendation for fighting a controversial Nasdaq transaction fee.

The NASD's effort itself the direct result of intense lobbying by a coalition led by the Security Traders Association is expected to result in Securities and Exchange Commission rulemaking that reduces 31(a) transaction-fee collections on riskless principal trades.

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