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Traders Magazine, April 2004

Editorial Staff

NYSE *The New York Stock Exchange will become a hybrid exchange within the next three or four months. That's according to testimony from John Thain, the Big Board's chief executive. A hybrid exchange, such as the Chicago Board Options Exchange, combines automatic executions with floor-based trading. To become a hybrid, the New York says it will liberalize the rules governing its Direct+ auto-ex system. To that end, it plans to re-file a rule change with the SEC by the end of May.

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