Junk Trade Through, Says Key Congressman
Traders Magazine, February 2004
The trade through rule is "obsolete" and should be eliminated. That's according to Rep. Richard Baker (R-Louisiana), the chairman of House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. The trade through rule, which was instituted in 1975, was designed to ensure that listed stocks cannot be traded at a price inferior to any other market. Nasdaq officials, who are joining other Big Board critics in trying to end the rule, contend it denies investors a choice among the best execution venues.
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