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The Beantown Exchange Moves Into the Fast Lane

Traders Magazine, July 2004

Peter Chapman

The Boston Stock Exchange, in a move that could qualify it as a "fast market," is offering automatic executions. The New England bourse recently launched its Instant Liquidity Access (ILA) product, giving members immediate fills against the BSE quote when it is equal to the NBBO. The new facility was modeled on the New York Stock Exchange's Direct+ system and is limited to orders of between 200 and 1,000 shares.

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