CHX Enables Routing Out
Traders Magazine, December 2007
The Chicago Stock Exchange, which currently rejects orders it cannot fill, intends to facilitate participants' ability to route to other markets. But in lieu of routing those orders itself, CHX has decided to enable firms to select their routing provider. "Firms can choose," said David Herron, chief executive of the CHX. "Instead of having an order rejected back to them, they can forward it to a broker-dealer that offers routing." He said some firms don't want unfilled orders returned.
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