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Chicago Stock ExchangeSlams NASD's SOES Plan

Traders Magazine, July 1999

Peter Chapman

The Chicago Stock Exchange has taken fresh aim at the National Association of Securities Dealers over SOES, calling for the Securities and Exchange Commission to reject the NASD's plan to reconfigure the system in tandem with SelectNet.

The plan would permit the automatic execution of up to 9,900 shares a trade on a revamped SOES, up from the maximum 1,000 shares at present. But the CHX, seeking to capitalize on unlisted trading privileges (UTP) in Nasdaq stocks, is upset that the current plan would still not give the exchange a direct SOES connection.

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