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Buyside Traders Take Stock Of NYSE's Sweeping Model

Traders Magazine, August 2004

Peter Chapman

The New York Stock Exchange's plan to open itself up to more automatic executions is drawing mixed reviews. The Big Board recenly announced it was revamping its Direct+ auto-ex mechanism to make it possible for institutional traders to get immediate fills on large blocks. The move comes as the exchange is under pressure from the Securities and Exchange Commission and the buyside to automate more of its trading.

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