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Buyside Gets Clarification on Brokers Trading Alongside

Traders Magazine, January 2008

Peter Chapman

Buyside traders confused by new New York Stock Exchange rules designed to make it easier for broker-dealers to trade along with their orders received some solace late last year. NYSE Regulation sent out a memo to its members clarifying a change it made to Rule 92 last summer. Rule 92 bars brokers from trading along with their institutional customers' orders. There are exceptions, though, and in those cases, the brokers must obtain consent from the money manager.

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