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Two Years Later

Traders Magazine, August 2006

Michael Scotti

The debate has died down, but when the SEC released Reg NMS in early 2004, the national issue de jour was whether U.S. workers should be able to direct portions of their Social Security payments into private accounts. In that context, Reg NMS made sense: With that much new money expected to roll into the public markets, the mechanism for equity trading needed to be more electronic and efficient.

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