Specialists Get New System In Philadelphia
EXCHANGE TECHNOLOGIES
PHILADELPHIA--The Philadelphia Stock Exchange (PHLX) has introduced the Remote Competing Specialist System (RCSS), which allows specialists and order-flow providers to provide liquidity from their own offices, off the central equity trading floor.
The first phase of the competing specialist system was initially implemented on the PHLX equity floor in February. It is linked to the 2,200 securities offered through the Philadelphia Automated Communication and Execution (PACE) order matching system
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