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STA Urges Reform of Access Fees: SEC Asked to Change the Competitive Advantage' for ECNs

Traders Magazine, March 2002

Gregory Bresiger

Electronic communications networks continue to have a competitive advantage over market makers because of their ability to charge access fees. And that advantage was provided by the regulators and should be changed by them. This claim - frequently heard in the dealer community - gained a new lease of life in a letter asking for various regulatory changes that was dispatched by the Security Traders Association to SEC Chairman Harvey Pitt.

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