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NYSE Electronic Rules Seen As a Step Forward

Traders Magazine, February 2004

Peter Chapman

Buyside traders are cheering the New York Stock Exchange's proposal to open itself up to more automatic executions. Still, they say more changes are needed. Last month, the Big Board announced it would liberalize the rules governing its small-order auto-ex platform, Direct+. The exchange eliminated the requirement that limits customers to just one order every 30-seconds as well as the maximum order size of 1,099 shares.

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