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April 30, 2003

A Fee Cap For Stocks

By Gregory Bresiger

There's a bargain basement sale at Nasdaq. Nasdaq has put a cap on the fees it charges traders for low-priced stocks.

Under the proposal, which is designed for stocks of $1 or less, Nasdaq would limit its execution charge to $75 per order and rebate up to half of that number.

The rate cut would be made retroactive to July 1, if Nasdaq's request is granted by the Securities and Exchange Commission.

Nasdaq also wants to limit the amount it returns in rebates.