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David Weisberger
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Stop the BS & Promote Real Transparency!

In this shared blog, David Weisberger says a recent WSJ article is wrong and that traders do need to purchase faster and more comprehensive market data to avoid being fined for violating "Best Execution" obligations.

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January 3, 2006

Nasdaq Trading on NYSE

By Peter Chapman

NYSE floor brokers will be able to trade Nasdaq stocks from the floor following the Big Board's merger with Archipelago Holdings.

That's according to Jerry Putnam, chief executive of Archipelago.

Putnam will become co-chief operating officer of the merged entity. New York floor brokers "want access to our marketplace."

Putnam made these comments at the Security Traders Association's annual conference in Boca Raton, Florida.

"There's big demand down there," he said. Now, the NYSE bars floor brokers from trading Nasdaq stocks.

"That will change," Putnam said. He added that floor brokers will also need new technology.

The Big Board and Archipelago expect to complete their merger this month or early next year.