Stock Exchanges Demand Reform But SROs Say SEC Campaign for ATS Equality Is Doomed
Traders Magazine, August 2001
A proposal to make it easier for self-regu latory organizations to file new rules is "unlikely" to be approved by the Securities and Exchange Commission, according to a senior trading executive in the Nasdaq community who is familiar with the rule. "I think it has little chance because lots of people in the industry have told the SEC that it isn't going to work," according to the source, who did not want to be quoted by name.
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