The Stampede to Philly
BEFORE THE SPIN
As predicted, we are in a new era for exchanges, and last week's news from the Philadelphia Stock Exchange (PHLX) makes that abundantly clear. Open outcry is quickly being relegated to the quaint shelf and electronic trading is finally coming to the fore. The gutsy move by the PHLX to reset the balance of the emerging "duopoly" of a reinvigorated New York Stock Exchange (NYSE) and Nasdaq looks as if it could be the first shot in a long war.
It also appears that the resentment about the sudden
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