Bloomberg Warns That SEC Could Create Central Market
Traders Magazine, September 1998
Bloomberg has warned that a Securities and Exchange Commission proposal for regulating alternative trading systems (ATSs) could create a centralized Nasdaq-run market that sends execution messages instead of orders to ATSs.
In a bluntly-worded comment letter on one of the two SEC proposals for regulating ATSs, including electronic communications networks, Bloomberg stated: "Taken to its logical and practical conclusion, such centralization of the market could severely truncate, if not eliminate, the role of ATSs, and stifle competition."
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