NYSE Responds To Complaints On Proposed Basket Trading
THIS WEEK'S LEAD STORIES
In a recent letter to the Securities and Exchange Commission, the New York Stock Exchange steadfastly defends its proposed basket instrument, which the exchange had hoped would begin trading this month. The letter is a response to recent challenges to the proposed basket, most notably from the Alliance of Floor Brokers (TST, July 3l), which represents some 400 NYSE members.
The Big Board proposed last June to introduce the basket (TST, June 19), known as the Exchange Stock Portfolio (ESP), and
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