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Access Fees For Options Get Blasted

Traders Magazine, July 2008

Peter Chapman

An old foe of ECN pricing has found a new forum. From the earliest days of ECNs a decade ago, Bloomberg Tradebook was vocal in its opposition to the practice of ECNs paying traders to supply liquidity and charging them to take it. Now, as more options exchanges adopt the practice of paying liquidity providers and charging liquidity takers, Tradebook is back on the warpath. And that's despite the fact the institutional brokerage operates an ECN itself.

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