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Is the Specialist System Doomed? With Dick Grasso gone,more trouble is brewing for NYSE specialists

Traders Magazine, October 2003

Steve Watkins

Can it get much worse than this for NYSE specialists? Plunging profits, declining revenues and regulators investigating how specialists conduct their affairs. And all this is happening at the same time that the Big Board is punishing five specialist firms for unethical trading. It's ugly.

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