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Charges Still Fly In NYSE Specialist Flap

Traders Magazine, July 2003

Gregory Bresiger

Big Board specialists are engaging in practices that are "fleecing the public," some institutional traders continue to complain. Specialists jumping in front of traders are outraging many institutional traders who want changes into what they see as dishonest practices on the New York Stock Exchange. "Those kind of charges of fleecing don't dignify a response," said Ray Pellecchia, a spokesman for the NYSE. "We have launched an investigation into these charges, but the exchange has made every attempt to ensure fair trading."

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