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Washington Watch: Internet Brings Competition to Big Board

Traders Magazine, January 2000

William Hoffman

Is the New York Stock Exchange's floor- based auction about to be replicated in cyberspace? That's the hope behind the Primex Auction System and its Nasdaq partner.

The new venture expects to do for offboard trading what Bernard L. Madoff Investment Securities did in the early years of the third market - siphon order flow away from the Big Board.

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