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More Order Disclosure and Confusion? The SIA Fears that Rules Won't Show Quality' of Executions

Traders Magazine, December 2000

William Hoffman

The SEC's rules on disclosing order routing and execution practices have come under fire. They are considered too complex and still don't go far enough.

"I think the commission really missed the boat on this one," said Georgetown University Professor Jim Angel, who is an expert on market structure issues. Customers won't know how to interpret the complex information brokers and market centers must release while market centers are under no mandate to make the information accessible or understandable, said Angel, who is currently on a research sabbatical at the National Association of Securities Dealers in Washington.

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