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Big Board Firms Keep Order Flow at Home

Traders Magazine, March 2004

Peter Chapman

Big Board member firms with large retail operations are internalizing more exchange-listed order flow. Citigroup Global Markets, UBS Financial Services, Credit Suisse First Boston and other desks are redirecting significant portions of listed flow away from the New York Stock Exchange. Some flow is heading to the nation's regional exchanges. But a sizeable amount is heading to the brokerages' own trading desks.

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