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Nasdaq Favors An Auto Floor

Traders Magazine, July 2004

Gregory Bresiger

Floor-based market models must automate and "migrate" to the Nasdaq model. That's what Nasdaq's general counsel has told the SEC while generally lauding efforts to change the trade-through rule by adding an opt-out provision. "Electronic trading is best for investors. Importantly, this truth is implicit in the SEC's proposal," according to Edward Knight, Nasdaq's general counsel. The Reg NMS package of reforms is much needed, he added.

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