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Primary Market Still Guides Open

Traders Magazine, June 2008

James Ramage

Most traders are filling their customers' orders in New York Stock Exchange-listed securities at the NYSE's opening price-not Nasdaq's. Since it began opening in NYSE stocks last July, Nasdaq OMX so far has gained almost a 5 percent market share at the opening. So when there are two prices to choose from for morning orders that arrive prior to 9:30 a.m., traders have been going where the volume is.

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