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Nasdaq Fears NASD's ADF Advantage

Traders Magazine, March 2003

Gregory Bresiger

Nasdaq is concerned about proposals by the NASD that would extend free or dirt cheap fees on the Alternative Display Facility, proposals it says would put it at a competitive disadvantage. "In essence," Nasdaq officials wrote in a letter to the SEC, "we believe that the current ADF fee proposal would have the effect of placing an unjust economic burden on the great majority of NASD members that have chosen not to use the ADF while benefiting the few firms that do use the system."

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