NexTrade Proposes ECN Central Order Book
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NEW YORK--NexTrade ECN has proposed an after-hours central order book for the nine Electronic Communications Networks that would feature free price quotes to all investors. The Central Trade Portal (CTP), as NexTrade has dubbed its initiative, would be open to other ATSs, exchanges and broker/dealers, and would operate as a non-profit. Initially it would accept limit orders only, and NexTrade would provide the routing mechanism to consolidate orders.
Speaking at a conference on ECNs at the
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