Commentary

Richard Repetto
Traders Magazine Online News

Why Do Exchanges Own Multiple Licenses? It's Not Hard To See, Look at the SEC

In this recent research note, Sandler O'Neill + Partners, L.P. Principal Richard Repetto examines why the public exchange operators hold multiple licenses and that rationale behind this phenomenon.

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April 21, 2005

The Trade-Through In Electronic Markets

By Gregory Bresiger

It "does not make sense" to extend the trade-through rule to electronic markets, a key congressional leader says.

Rep. Mike Oxley (R-Ohio), the chairman of the House Financial Services Committee, said that, "I can think of no compelling reason to extend the rule, with its associated and quite significant compliance costs to the vibrant Nasdaq marketplace." Oxley's comments came at a recent Congressional hearing on Reg NMS.