Agents in the Nasdaq Field: Firms not ready for the new era of commissions risk marginalization
Traders Magazine, August 2001
Nasdaq dealers have lost their long-held ability to control the spread and maintain their accustomed profitability. That's because new market regulations allow the buyside, or non-dealer trading naturals', to place limit orders into the Nasdaq quote display. Dealers wonder if they can survive the cost squeeze and still provide smooth functioning, liquid markets. Will it be economically feasible to imbed the cost of transacting services into the trading price of Nasdaq stocks?
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