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NYSE Looks To Expand Floor Role

Traders Magazine, May 2008

Peter Chapman

The New York Stock Exchange, reacting to a decline in the number of floor traders, is proposing that exchange employees be allowed to act as floor officials. The exchange asked the Securities and Exchange Commission for permission to alter its Rule 46, which restricts the role of floor official to exchange members. Under an amendment to the rule, "qualified exchange employees" would be permitted to function as floor officials and governors along with members.

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