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New NYSE Rules Attract Lehman

Traders Magazine, February 2008

James Ramage

New York Stock Exchange rule changes that would favor specialists lay behind Lehman Brothers' decision to enter the floor market-making business. Lehman said it can run a profitable market-making business on the NYSE floor if the Big Board ultimately relaxes rules governing specialist behavior. That includes rules affecting capital levels, hedging and parity, among others, according to a knowledgeable Lehman source.

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