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Buyside Wants Better Express' Service

Traders Magazine, August 2001

Gregory Bresiger

The goal of improving the New York Stock Exchange's XPress system is commendable, but a proposed reform doesn't go far enough. That's according to a recent letter from the Investment Company Institute (ICI) to the Securities and Exchange Commission. The NYSE reform under consideration would decrease the number of shares required for quotes and orders to become eligible for XPress. It would also reduce the time that a published bid or offer must remain at the same price.

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