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ECNs Lose First Round on Fees

Traders Magazine, December 2001

Gregory Bresiger

BRUT and NexTrade, along with some other ECNs, have lost in their initial attempts to derail scheduled increases in Nasdaq fees that were slated to take effect on Dec. 3. The first two rounds took effect in October and November. The Securities and Exchange Commission recently ruled against the two electronic communication networks. But Nasdaq, under pressure from ECNs, was officially compelled by the agency to reopen the third scheduled fee hike for public comment.

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