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September 30, 2004

Much More to Come for the Hybrid

By Gregory Bresiger

The New York Stock Exchange, in the process of transforming itself to a hybrid market, will be offering many new amendments to its plan, several Big Board players told Traders Magazine. "The Big Board will probably be offering many amendments between now and next spring," says one exchange source, requesting anonymity.

"There are several issues that have to be hammered out," adds the source, a specialist on the NYSE. "These include how the tick rule will be changed. What the short-sale rule will look like. How the plan will generate more liquidity for small-cap stocks. What is a fast market versus a slow market? What will the sweep rules be like."