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NYSE to Cut Specialist Capital

Traders Magazine, February 2008

Peter Chapman

The New York Stock Exchange has asked the Securities and Exchange Commission for permission to reduce specialists' capital requirements. Under a proposal submitted to the regulator late last year, the NYSE would reduce the amount of net liquid assets (NLA) specialists are required to maintain by 75 percent. Current levels are unnecessarily high, the NYSE says, while the proposed amount is adequate to maintain the market's integrity. …

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