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Stock Options, anyone? The NASD's New Gamble

Traders Magazine, October 1998

John A. Byrne

Back in June 1985, Richard Ketchum brushed aside criticism of the Securities and Exchange Commission's budding policy for trading options based on Nasdaq stocks.

"Fairness," said Ketchum, the then SEC director of market regulation, "is in the eyes of the beholder. I guess the NASD's view is that what they ended up with wasn't fair."

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