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Specialists Under Fire

Traders Magazine, October 2003

Gregory Bresiger

The specialist system and the concept of self-regulation of markets must go, a scholar of markets has told Congress. "The era of the SRO is over," he said. Those were some of the comments given by James Glassman of the American Enterprise Institute, who testified before the House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Glassman also implored the lawmakers to insist that the New York Stock Exchange's specialist system be ended.

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