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Nasdaq's Subpenny Trading Contradictions

Traders Magazine, August 2003

Gregory Bresiger

Nasdaq has filed with the regulators for permission to conduct subpenny trading. This is even though Nasdaq officials have previously said that they believe subpenny trading can cause serious harm for the trading industry. "They're taking a smart position. They want the ability to do it if the practice becomes widespread," said a Nasdaq trader, who didn't want to be quoted by name, but was acquainted with the proposed rule change and petition.

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