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Nasdaq Restructuring Moves Forward

Traders Magazine, December 1999

William Hoffman

News bulletins breathlessly recounted the reports: the forthcoming Nasdaq restructuring, initially valued up to $1.4 billion, would take place in two stages of stock privately placed to trading firms, issuers, and market participants. Each shareholder would be limited to a 2.5 percent stake.

By the fall of 2000, "75 percent of Nasdaq would be owned by market participants and membership," John Hilley, chairman and chief executive of Nasdaq AMEX International, told November's meeting of the California Association of Independent Broker Dealers.

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