Nasdaq Plan for More Order Flow
Traders Magazine, September 2003
Nasdaq wants to offer bargain basement executions to ECNs with low-fee business models. This is a move that it hopes will turn would be competitors into clients. In what is likely to be viewed as a controversial proposed rule change, Nasdaq wants to cap ECN fees and give low-fee ECNs the same treatment as market makers. That, Nasdaq officials hope, will increase order flow. But some trading industry officials say it will require ECN customers to make hard decisions.
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