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Will the Xpress' Be Fast Enough? Traders Carping Even Before It Runs

Traders Magazine, September 2000

Laura Santini üInvestment Dealers' Digest

As the New York Stock Exchange prepares to launch Institutional XPress, the early indications from the trading community are not positive: the system won't go far enough to give institutions direct access to the floor, some pros say.

At issue is the requirement that an order be exposed to the floor for at least 30 seconds before it becomes "expressable," that is, eligible for remote electronic execution.

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