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Is the Agency-Quote Proposal Plausible?: Buyside and Sellside Say It's Only an Interim Step

Traders Magazine, January 1999

Michael L. O'Reilly

Most traders want to level the proverbial playing field on Nasdaq. Only no one can agree on how to do it.

Buy-side traders want limit-order protection, price transparency and a more-centralized market. Broker dealers and market makers complain about unfair competition from electronic communications networks (ECNs) and day traders.

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