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Amex Strikes Back on Nasdaq

Traders Magazine, April 2002

Gregory Bresiger

Six specialist firms are each paying a $1 million startup charge to begin making markets in Nasdaq-listed stocks. "Decimalization and reduced spreads have dramatically changed the economics of trading Nasdaq stocks. The Amex's trading system combined with its strong collection of equity and derivative traders will provide a competitive platform for trading Nasdaq stocks," according to John McGowan, president of Cohen, Duffy, McGowan & Co., one of the six firms included in phase one of the project.

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