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NYSE specialists to lose constraints on trading

Traders Magazine, August 2008

Peter Chapman

The New York Stock Exchange, in the second major revamping of its marketplace in the past four years, intends to remove some of the restrictions on the trading activities of its specialists in the hopes of clawing back order flow lost to other market centers. Bowing to complaints by specialists that they are too hemmed in by outdated rules to make a living, the exchange is overhauling a group of rules that have long served to make the specialist a de facto servant of the Big Board.

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