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The Coming Age of Reg NMS

Traders Magazine, August 2006

Peter Chapman

It wasn't meant to be. The transformation of the stock market into an electronic bazaar was supposed to be a done deal by now. By June 29th, the Securities and Exchange Commission's new intermarket trading rules-part of its Regulation NMS package-were to have kicked in. Most trading would be done electronically and the floor of the New York Stock Exchange was expected to resemble a ghost town. That has obviously not come to pass. On May 24, the SEC scrapped the original implementation schedule for Rules 610 and 611 and announced a new one.

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