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Payment for Order Flow Back From Extinction?

Traders Magazine, March 2002

John A. Byrne

Traders on the Chicago Board Options Exchange - alarmed by the gradual erosion in the CBOE's share of equity options volume - are clamoring to reinstate payment for order flow. The controversial practice - eliminated last year by most exchanges in response to widespread criticism - is now seen as a way to draw back business lost to rivals, some CBOE pros contend. That contradicts critics, who suggest that rebates damage the quality of the customers' executions.

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