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Knight Wants Archipelago Torpedoed

Traders Magazine, June 2001

Gregory Bresiger

Knight Trading Group, already fighting against a group of regionals that want expanded Nasdaq coverage, wants the Securities and Exchange Commission to look more closely at the Pacific Exchange's electronic facility plan.

The Pacific Exchange is asking approval for a new electronic exchange of its Archipelago Exchange operation. Knight sees this as another threat to market makers as a class.

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