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Nasdaq Market Makers Rescue Plan: When is a commission not a commission? When firms facing downward

Traders Magazine, July 2001

Peter Chapman

Faced with thinner spreads because of decimalization, anxious Nasdaq market makers are charging a commission-like fee to prop up their ailing trading businesses. The new charge, which is called a "commission-equivalent," is being added to or subtracted from execution prices by some market makers when filling the orders of institutional customers.

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