NYSE Unveils Plan To Trade Baskets
THIS WEEK'S LEAD STORIES
Some 20 months after the stock market crash of October 1987, the New York Stock Exchange has announced plans to introduce basket trading as early as September. In anticipation of Exchange Stock Portfolio trading, the NYSE has devised new rules, new systems and a new ESP instrument, to be made up of a basket of stocks in the Standard & Poor's 500 index. The basket initially will cost $5 million and will be composed of 126,000 shares, allocated according to each stock's index weighting.
Unlike cash
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